A poor Manufacturing PMI report from the U.K. on Wednesday was enough to help drive the Sterling slightly lower against the USD. Mixed economic data has been the norm from the U.K. for a while now, but yesterday’s statistics came when investors had been starting to express doubts about the ability of the government to practice their austerity measures and achieve growth all in the same breath. Risk sentiment has become down beat the past month for the GBP and like the EUR it will take increased risk appetite to help turn the Sterling around. The Nationwide HPI and the Construction PMI figures will be released today and the Services PMI report will come tomorrow. With a handful of economic data around these next two days, the Sterling should expect to see volatility.
Written by bforex.com
