Pound US Dollar Exchange Rate Hits Six-Week Low Amid UK Factory Upturn
Pound US Dollar Exchange Rate Hits Six-Week Low amid UK Factory Upturn
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Pound US Dollar Exchange Rate Hits Six-Week Low amid UK Factory Upturn
The Pound Sterling (GBP) finds support near a six-week low around 1.2540 in Tuesday’s late London session after the S&P Global/CIPS reported an upbeat Manufacturing PMI for March.
'Production and new orders returned to growth, albeit only hesitantly, following year-long downturns, with the main thrust of the expansion coming from stronger domestic demand'
Output, new orders and business optimism all increased in March, according to a closely-watched survey.
The consumer goods sector and domestic markets helped manufacturers last month.