According to a survey published by the Confederation of British Industry (CBI) on Wednesday, small UK manufacturing firms are their most pessimistic since just after the Brexit referendum in 2016 amid UK political uncertainty and looming trade war risks.
Additional Details (via Reuters):
“The CBI’s gauge of optimism for small and medium-sized manufacturers fell to -32 in the three months to the end of October, down from -28 in the three months to July.
Companies reported weak new orders - especially from clients in Britain - and little enthusiasm to raise investment spending.”
Meanwhile, GBP/USD reverts to the 1.2880 area, reversing a dip to 1.2869 lows seen in early trades, as the US dollar retreat from four-day tops of 98.01 reached against its main rivals.
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