Sterling Stays Weaker After U.K. PMI Data

Dow Jones
Yesterday

0848 GMT - Sterling remains weaker against the dollar and the euro after a key measure of manufacturing and services activity fell more than expected in September. The U.K. composite purchasing managers' index dropped to 51.7 in September from 52.5 in August, below the 52.0 forecast by economists in a WSJ survey. However, it remained above the 50-level which signals growth in activity. Sterling trades down 0.3% at $1.3306, close to an earlier eight-week low of $1.3290, and the euro rises 0.1% to 0.8582 pounds, both little changed from levels seen before the data.

 

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