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Sterling edges towards $1.25 ahead of UK PMI data


Tuesday, 23 June 2020 15:16 WIB

Currency EuroSterling,Poundsterling


The pound rose versus the dollar but was little changed against the euro in early London trading on Tuesday, ahead of UK PMI data for June and the expected announcement of further lockdown easing measures.

The IHS Markit Purchasing Managers' Index (PMI) hit a record low in April, and a large majority of companies reported that activity continued to fall in May, albeit on a less widespread basis than just after the lockdown began.

The June data is expected to show less of a decline than May but remain below 50, indicating contraction, according to a Reuters poll.

The pound was up 0.2% versus the dollar at 07:50 GMT, at $1.491, having gained in early London trading as the dollar index fell. Versus the euro, the pound was down around 0.2% at 90.435 pence.

Source : Reuters


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