Pound Sterling outperforms on strong UK Retail Sales, PMI data
The Pound Sterling (GBP) rises strongly against its major currency peers, jumps to near 1.3536 against the US Dollar (USD) as the flash United Kingdom (UK) S&P Global Purchasing Managers’ Index (PMI) data for January has come in stronger than projected, and Retail Sales have returned to growth in December. Read more…
GBP/USD may not have enough steam to break above 1.3570 – UOB Group
The risk for Pound Sterling (GBP) remains on the upside; it is unclear whether momentum is strong enough to break above 1.3570, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more…
UK preliminary Composite PMI expands strongly to 53.9 vs. 51.4 prior
According to flash estimates, the Composite PMI in the United Kingdom (UK) economy expanded at a faster pace to 53.9 in January from 51.4 in December, also beating estimates of 51.7. The overall business activity rose strongly as activities in both the manufacturing and service sectors grew sharply. Read more…
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