GBP Gains on USD, Falls vs. Other Rivals After Manufacturing PMI

The Great Britain pound gained on the US dollar but fell versus other most-traded currencies after the release of Britain’s manufacturing PMI.

The seasonally adjusted IHS Markit/CIPS Manufacturing Purchasing Managers’ Index fell to 56.3 in December from 58.2 in November, far below the forecast level of 58.0. Still, it was far above the neutral 50.0 level that separates expansion from contraction, and the average reading in the last quarter of 2017 was the best since the second quarter of 2014. The construction PMI will be released tomorrow, while the services PMI is scheduled for Thursday.

GBP/USD was up from 1.3524 to 1.3555 as of 12:10 GMT today. At the same time, GBP/JPY declined from 152.33 to 152.08.

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