UK PMI – The Terrible Trio

Wednesday 4th September 2019 – 09:37 (BST)

PMI numbers released by both the Chartered Institute of Purchasing & Supply and the Markit Economics during the last few days have shown contraction in the UK’s manufacturing, construction and service sectors. This has further weakened the pound as the prospect of a no-deal Brexit and possible snap general election looms for the UK.

There has been some stabilisation above $1.20 and €1.10 prior to the latest announcements with the pound only briefly dipping below these technical levels of big resistance before bouncing back into range.

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