The British pound today traded sideways against the US dollar after the release of the Markit/CIPS UK Construction PMI in the early European session. The pound rallied slightly higher in the mid-European session in risk-off environment as markets reacted to President Trump’s announcement that the US would institute steep tariffs on imported steel and aluminum products.
The Great Britain pound fell against its most-traded rivals today, though held its ground against the US dollar, after growth of Britain’s services sector slowed unexpectedly.
The British pound today declined against the US dollar staring in the early European session after the release of disappointing UK construction data. The pound’s decline gained traction during the early North American session after the release of the US non-farm payrolls report.
The British pound today rallied higher against the US dollar in the early European session despite the release of weak UK manufacturing data. The pound’s rally was largely triggered by the weaker US dollar and positive UK housing data released by Nationwide Building Society earlier in the session.
The British pound today gained ground against the US dollar amid a raft of positive UK macro releases such as the Markit/CIPS UK Services PMI. Positive releases from the US docket in the early American session could not derail the pound’s rally against the US dollar.
The British pound fell against most of its major peers on Wednesday following a fresh release that showed a drop in activity within the construction sector in the last month of 2017. The British currency further weakened against the US dollar as traders anticipated the minutes of the last Federal Open Market Committee’s meeting.
The Great Britain pound gained on the US dollar but fell versus other most-traded currencies after the release of Britain’s manufacturing PMI.
The Great Britain pound dropped today after the Brexit talks planned for yesterday failed to yield a result, collapsing at the last minute. The fact that growth of Britain’s services sector slowed more than was expected did not help the currency either.
The Great Britain rallied today amid signs that Britain and the European Union continued to make progress in their Brexit negotiations.
The Great Britain pound was stable today following yesterday’s steep sell-off. The currency got some support from the solid performance of Britain’s services sector.
