Upbeat U.K Manufacturing data
Dec 01 2014
The British pound recovered significantly against the U.S. dollar on Monday, after the release of upbeat U.K. manufacturing data, although demand for the greenback continued to be increasing.
The UK purchasing managers’ index rose to a 4 months high to 53.5 in November, higher from the reading of 53.2 in October.
While Analysts had expected the index to edge down to 53.1 in November.
Accordingly, the GBP/USD rose above $1.57 during today European trading session.