May 2, 2023 – Written by John Cameron
STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Wavered amid Weakening UK Factory Activity
Pound (GBP) Undermined by Downbeat Factory Activity
The Pound (GBP) struggled for demand against many of its peers on Tuesday as the latest manufacturing PMI highlighted flagging factory demand.
The final reading for the S&P Global manufacturing PMI showed a three-month low as slowing demand continued for the flagging sector. Despite edging up slightly from preliminary estimates, manufacturing fell from 47.9 in March to 47.8 in April. A 15th consecutive month of declining new export orders pointed to a struggling sector. Rob…
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