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Great Britain Pound Holds onto Gains vs. Dollar, Lower vs. Yen

January 4, 2016 at 13:12 by Vladimir Vyun

Banknotes of 5, 10 and 20 poundsThe Great Britain pound lost some of its gains against the US dollar today, though not all of them, after the UK manufacturing index came out lower than market expectations. The sterling was falling against other major peers, including the Japanese yen.

The Markit/CIPS UK Manufacturing PMI ticked lower from 52.5 in November to 51.9 in December compared to the median forecast of 52.8. Other economic indicators released during the current session were modestly positive. This allowed the sterling to remain above the opening level against the dollar, though against the yen Britain’s currency was trading near the lowest level since April.

GBP/USD was up from 1.4732 to 1.4763 as of 13:11 GMT today, retreating from the daily high of 1.4815. GBP/JPY tumbled from 177.11 to 175.76, and its daily low of 174.92 was the lowest since April 14.

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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