UK Pound Climbs with Help from Manufacturing

The Great Britain pound rallied today, boosted by the surprisingly strong manufacturing sector, reaching the highest level in about a month against some of its major rivals.
The seasonally adjusted Markit/CIPS Purchasing Managers’ Index jumped from the 41-month low of 48.3 logged in July to 53.3 in August. The actual reading was far above 49.1 estimated by specialists ahead of the report. The data added to the slew of robust economic indicators that suggested limited impact of the Brexit on Britain’s economy.
GBP/USD climbed from 1.3136 to 1.3248 as of 10:33 GMT today. GBP/JPY was up 1% from 135.84 to 137.20, trading near the highest level since the big drop on July 29.

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