The Sterling ignored weaker than expected UK Manufacturing PMI data, but remained relatively strong against the US Dollar. The GBP/USD currency pair was little changed on the report, while remaining under bullish sentiment to head for the 1.3600 mark.
Britain’s manufacturing sector grew at a weaker pace in December, following four-year high reached in the prior month, while still remaining a bright spot in the UK economy heading to 2018. in contrast to solid expansion in the Euro zone, the HIS Markit/CIPS Manufacturing PMI for Britain fell to 56.3 in the reported month. The PMI remained above its yearly average for a whole 2017, despite some cooling in new business, export orders, output and employment growth.
