Great Britain Pound Down on Poor PMI Report

The Great Britain pound slid today after the report showed that the UK manufacturing PMI unexpectedly dropped, reducing the probability of an increase of the interest rates this week.
Britain’s manufacturing PMI fell from 56.7 to 54.6, the lowest level in seven months, while analysts promised an increase to 57.0. Bank of England Governor Mervyn King said yesterday that the nation’s debt would increase if the interest rates would be raised. The meeting of the BoE policy makers to discuss the rates is scheduled on May 5.
GBP/USD fell from 1.6652 to 1.6533 as of 16:32 GMT today, while GBP/JPY dropped from 135.20 to 133.81.

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