Great Britain Pound Meanders After Amazing Manufacturing Report

The Great Britain pound was mixed after a very positive manufacturing report. The currency was flat versus the US dollar, gained on the Japanese yen, but fell against such majors like the euro and the Swiss franc. The most likely reason for the relatively weak performance were Brexit fears.

The seasonally adjusted manufacturing Markit/CIPS Purchasing Managers’ Index climbed from 54.2 in March to 57.3 in April — the highest level in three year. The actual reading was far better than a small drop to 54.0 predicted by analysts. The report said:

The April PMI reflected positive influences from all five of its sub-components. Alongside the growth of output, new orders and employment, stocks of purchases also rose at a survey record rate and suppliers’ delivery times lengthened.

GBP/USD traded at 1.2895 as of 9:12 GMT today, close to its opening level of 1.2885. GBP/CHF dropped from 1.2837 to 1.2819.

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