GBP/USD: UK Manufacturing Production

Dukascopy Bank Team Dukascopy Bank SA

The British Pound weakened against the Greenback, following the UK Manufacturing Production data release on Monday. The GBP/USD currency pair lost 37 pips, or 0.28%, to continue fluctuating in the 1.3365 area.

The Office for National Statistics released Manufacturing Production data that came out lower-than-expected of negative 1.4%, compared to the negative 0.1% in the previous period.

One of the main reasons for the negative data was that demand for electrical machinery and steel, falled raising concerns in economists about the strength of the UK's economy.

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Dukascopy Bank Team

Dukascopy Bank SA

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