United Kingdom's Manufacturing PMI was released earlier today, causing Sterling to drop drastically against the Greenback and Euro as news were not as good as was expected. Manufacturing Purchasing Managers' Index came out at 52.1 points, lower than revised 54.2. UK PMI fell to a twenty-month low with 52.1 in May, weakest release since September 2009. Expectations revised UK Manufacturing PMI to fall slightly off April's 54.4 results, to 54.2;
Shortly after UK PMI release, the GBP spiraled downwards quickly, namely against the USD and EUR. From 1.6480, the GBP fell to 1.6401 versus USD in the space of about five minutes within the release. A very slight correction has been made as the pair is currently trading at 1.6419.
The Euro gained against the Pound, as it jumped from 0.8754 to 0.8794 soon after the release. Presently, the pair is trading in between 0.8754 and 0.8794; at 0.8773
MegaTraderFX - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.
All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. MegaTraderFX bears no responsibility for any trading losses you might incur as a result of using any data within the MegaTraderFX.
