FX : dips back to 1.5935 on weaker than expected PMI
FXstreet.com (Barcelona) - Manufacturing activity has contracted in the UK in September, against market expectations of a slight growth; the Pound has eased from levels around 1.5990 to 1.5935 support.
UK manufacturing PMI has edged down to 49.5 in September, from 49.7 un August, against the market expectations of an increase to 50.3. PMI figures show expansion f the sector's activity in levels above 50 and contraction otherwise.
GBP/USD recovery from 1.5925 intra-day low has been capped at 1.5990 ahead of the release of PMI figures, and the Pound has eased to 1.5935 which, so far, remains intact.
