- Pound Sterling faces selling pressure despite the UK economy turning out more resilient in June than expected.
- Upbeat United Kingdom factory data showcase optimism among producers in spite of a highly-inflated price environment.
- Monthly Industrial and Manufacturing Production data grew by 1.8% and 2.4% in June, respectively.
The Pound Sterling (GBP) seems to be grabbing a Currency of the Week tag as the United Kingdom’s factory data for June and the April-June Gross Domestic Product (GDP) grew stronger than expectations. The GBP/USD pair fails to maintain recovery as market sentiment turns sour on stronger-than-anticipated United States Producer Price Index (PPI) data.
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