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GBP/USD Drops as UK PMI Falls, GBP/JPY Highest Since 2010

February 1, 2013 at 11:05 by Vladimir Vyun

Focus on 5-pound noteThe Great Britain pound tumbled against the US dollar today as the UK manufacturing fell more than was anticipated by analysts. The currency continued to rise against the Japanese yen, reaching the highest price since February 2010.

The Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell from 51.2 in December (which was the highest in 15 months) to 50.8 in January. Experts have hoped for a reading of 51.0. The figure above 50.0 still indicated expansion of the sector. The report ended the rally of sterling against the dollar, which was caused by positive data, but did not affect the upward movement versus the yen.

GBP/USD fell from 1.5854 to 1.5814 as of 11:05 GMT today. GBP/JPY advanced from 145.38 to 145.75 and its daily high was at 146.46.

If you have any questions, comments or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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