Sterling drops on weak data

Thursday, 02. January 2020 17:26

The British pound traded lower against major currencies on Thursday as fresh data showed a dampened business sentiment in the United Kingdom. Meanwhile, IHS Markit reported that the UK's manufacturing PMI dropped in December, with output falling at the fastest pace in more than seven years.

On the trade front, United States Donald Trump announced that the so-called phase one deal with China will be inked on January 15 in Washington.

The pound lost 0.78% against the greenback to go for $1.31587 at 5:25 CET while the euro gained 0.57% against sterling, changing hands for 0.85012 at the same time.

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Breaking the News / GA