GBP a mid-performer vs. G10 – Scotiabank

Pound Sterling (GBP) is weak and down 0.5% against the US Dollar (USD), a mid-performer among the G10 in an environment of broad-based USD strength, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret note.

PMIs just on either side of 50

“The latest PMI’s have offered a better than expected improvement in manufacturing alongside an as expected improvement in services. Both readings remain very close to the expansion/contraction threshold at 50, offering little in terms of material growth or contraction. This week’s data calendar is light and includes CBI sentiment data on Tuesday.”

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