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.


Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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