British pound reaches 10-month maximums as UK factory surge rebounds

British pound reaches 10-month maximums as UK factory surge rebounds

On Tuesday, the British pound ascended to 10-month peaks versus the broadly weaker American dollar after data unveiling that British factory surge rebounded in July on the back of a soar in fresh exports.

The currency pair GBP/USD reached 1.3239 - the most impressive reading since September 2016.

As financial data company Markit informed, its manufacturing purchasing managers' index inched up to 55.1 from June’s downwardly revised reading of 54.2, which outperformed experts’ forecasts for an outcome of 54.4.

The leap was powered by foreign demand for British goods that grew by the fastest rate since the all-time maximum in April 2010.

The rate of job creation happened to be among the best recorded for the last three years, as Markit stressed.

The greenback was wallowing close to 14-month lows versus a currency basket having declined for a fifth consecutive month in July, contributing to its longest losing marathon since 2011.

Similar

British pound dives to day’s minimums on UK inflation data

On Tuesday, the British pound went down to the day’s minimums versus the evergreen buck due to slowing inflation in December, which slowed for the first time for six months, hinting that the country’s cost of living squeeze relieved…

Aussie and Kiwi are at 4-month peaks vs. weaker US dollar

On Monday, the Australian and New Zealand dollars were keeping to four-month maximums versus their American rival because the broadly stronger common currency kept weighing heavily on the US currency notwithstanding Friday's mostly positive American data…

Popular

Greenback descends versus yen

On Thursday, the evergreen buck was just a touch lower versus the Japanese yen after reaching an eight-week peak overnight…

Gold is at 5-month minimums on stronger greenback

On Friday, gold dived to five-month minimums because optimism as for the US tax reform overhaul kept underpinning demand for the US dollar ahead of the highly-anticipated American nonfarm payrolls report to be released a bit later in the day…

Gold descends on profit-taking in Asia

On Monday, gold sank on profit-taking in Asia because market participants are closely watching the evergreen buck for potential further dives closely connected with a more gentle than anticipated rate lift path by the key US bank in 2018 after gloomy…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera