The Great Britain pound slumped today after the report showed that the manufacturing sector remained in contraction, albeit shrinking with slower pace.
The Markit/CIPS UK Manufacturing PMI rose from 47.9 in February to 48.3 in March. Still, the reading below 50.0 indicates decline of the industry. Moreover, the actual figure was below the forecast of 48.9. The data reminded traders that Britain remains deep in troubles, driving investors away from the nation’s currency.
GBP/USD dropped from 1.5228 to 1.5114 and GBP/JPY sank from 141.95 to 141.31 as of 16:57 GMT today.
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