Friday 2 September 2016

The British pound rose after the release of statistics

At auctions in Europe, in the focus was the British pound. Within twenty minutes, the pound soared on the news on 120 points to 1.3266. The currency's strength was caused by data on business activity in the manufacturing sector of the United Kingdom. Orders for sale, which were placed between 1.3155 and 1.3260, were executed and protective stop-losses were swept away.
The manufacturing PMI index in the UK amounted 53.3 points in August, and was significantly higher than the forecast of 49.0. The previous value was revised from 48.2 to 48.3 points.
High demand for the pound had a negative impact on the currencies in crosses with it. The euro/pound exchange rate fell by 70 points to 0.8403. Against the yen the pound rose by 135 points to 137.36; against the Australian dollar - by 145 points to 1.7597; against the Swiss franc - by 150 points to 1.3081.


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