$GBPUSD Stays Flat as Markets Await US Data Releases
GBP/USD is trading around $1.3139, holding steady from Monday’s opening levels. The Pound (GBP) found support following the UK’s final manufacturing PMI, which hit a 26-month high of 52.5. This indicates solid growth in the UK manufacturing sector, particularly in output and new orders, with the investment goods sector performing strongly. Rob Dobson from S&P Global Market Intelligence commented that the sector remains a “positive contributor” to economic growth.
Meanwhile, the US Dollar (USD) saw muted movement as US markets were closed for Labor Day. The USD held steady, supported by a cautious market mood. Looking ahead, the US ISM manufacturing PMI release on Tuesday could drive GBP/USD volatility, especially if it mirrors the weak data from July.
Stay tuned for updates as the economic data unfolds!... Show More
