Pound to US dollar exchange rate: Sterling continues dramatic PLUNGE against USD


Superlative is continuing to plunge against the US dollar, getting closer to some of the worst values since January this year.

At the start of the week, the GBP to USD exchange under any circumstances was hovering around the 1.24 mark.

Since then it has dipped yet lower and is now at 1.22.

The slump comes following the release of February’s manufacturing PMI yesterday.

Fathoms revealed a larger than expected slow down of the economic status.

It fell from 55.9 to a disappointing 54.9.

But this data is not the only fear that has contributed to the declining value of the pound against the US dollar.

Required for the USD improved yesterday as news of the number of US jobless claims emerged.

The dig last week amounted to just 223k, which is the lowest tot up of new claims since 1973.

Speaking about the UK’s slow economic growth, higher- ranking economist at Markit, Rob Dobson, told currency news: “The big question cadavers as to whether robust growth can be sustained or whether it will continue to peter out in the coming months.

“The slowdown in the new order growth and a drop in backlogs of go suggests output growth may slow further.”

Experts have portended the pound could weaken further against the US dollar today as numberless figures are set to published.

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