Pound v US dollar: GBP drops sharply as UK manufacturing dips

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Pound Vs DollarGETTY

The stylish GBP Vs Dollar exchange rate stands at $1.330

This has put the pairing down to an quarrel rate of $1.330, the lowest rate seen since mid-September.

Looking at the UK hot item in closer detail, the manufacturing index has slipped from 56.9 units to 55.9. This was a worse result than the forecast 56.4 spike outcome.

The statistics company that compiles the data is IHS Markit. 

Chief Rob Dobson said: “The latest PMI survey showed a modest deceleration in the fees of expansion in UK manufacturing production and new orders. 

«Although it looks as if the sector make tracked solid progress through the third quarter as a whole, the growth slowdown in September is a at sign that momentum is being lost across the broader UK succinctness.”

POUND VS DOLLARGETTY

The pound falls at a-0.6 per cent loss against the US dollar today

The recent PMI survey showed a modest deceleration in the rates of expansion in UK manufacturing staging and new orders

Rob Dobson, IHS Markit

Dobson has reported that UK exports are appease going steady, however, due to improved conditions from a weaker GETTY

IHS Markit’s Mr Dobson has reported that UK exports are calm going steady

Last week was peppered with pro-rate hike homilies from Federal Reserve officials, with Fed Chair Janet Yellen combining to the chorus of voices.

In particular, traders concluded that there could be a assured chance of a third US interest rate hike taking place this year. 

Ms Yellen revealed that: “We should also be wary of moving [monetary policy] too gradatim alumnae. 

«Assumption that monetary policy affects economic activity and inflation with a landed lag, it would be imprudent to keep monetary policy on hold until inflation is overdue to 2 per cent.”

For the rest of this week, the pound could remain weak to shocks from PMI data out on Tuesday and Wednesday.

Tuesday’s construction PMI is augur to show slowing growth, but no change has been anticipated for Wednesday’s high-impact putting into plays figure. 

POUND VS DOLLARGETTY

The US PMI result for September is likely to inspire further GBP/USD the Board rate movement

Wednesday’s overall composite PMI is tipped to show a child slowdown in UK economic activity.

This afternoon’s US manufacturing PMI result for September are credible to inspire further GBP/USD exchange rate movement. 

A faster pace of yield in the US manufacturing sector would be US dollar-supportive.

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