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GBP Today’s Biggest Loser – Video Analysis

Market Analysis

GBP Today’s Biggest Loser – The dollar scooted higher after the better than expected manufacturing ISM and firmer construction spending figures.  The pound overtook the euro in the biggest loser stakes, presently off lows but still registering a 0.9% decline against the dollar and yen, and a 0.4% gain versus the euro. A miss in the UK manufacturing PMI survey for September, although still an overall fairly solid report, imparted a downward spin on the pound, with markets now concerned that the PMI survey for the big service sector (due Wednesday) will follow suit and disappoint.

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Stuart Cowell

Senior Market Analyst


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