© Reuters. Sterling touches day’s lows after U.K. factory data Investing.com – The pound fell to session lows against the dollar on Tuesday after data showing that in October, dampening the outlook for fourth quarter growth.
hit lows of 1.5004, down from around 1.5012 ahead of the data.
The Office for National Statistics said fell 0.4% in October, compared to forecasts for a more modest decline of 0.1%, after rising 0.9% in September.
fell 0.1% from a year earlier, against expectations for a gain of 0.1%.
rose 0.1% on the month, in line with forecasts and was up , beating forecasts for a gain of 1.2%.
The data came ahead of the Bank of England’s upcoming monetary policy announcement on Thursday. Most analysts expect the central bank to keep rates on hold at record lows of 0.5%.
The pound was also lower against the euro, with advancing 0.5% to 0.7234.
Overall market sentiment remained subdued after added to fears over a China-led slowdown in global growth.
Chinese fell 6.8% on a year-over-year basis in November, the fifth straight monthly decline as weak global demand continued to weigh. were also down, falling 8.7%.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased 0.10% to 98.62.
Demand for the dollar continued to be underpinned by expectations that the Federal Reserve is on track to raise interest rates for the first time since 2006 at its upcoming meeting on December 15-16. Higher interest rates would make the dollar more attractive to yield-seeking investors.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Foreign exchange - Sterling hits session lows after U.Okay. manufacturing knowledge
No comments:
Post a Comment