The Greenback strengthened against the British pound, following the UK Manufacturing Production data release. The GBP/USD currency pair lost 19 pips, or 0.14%, to continue fluctuating in the 1.3247 area.
The Office for National Statistics released monthly Production data that came out lower-than-expected of 0.4%, compare to forcasted 1.0%.
A chief UK economist at Pantheon Macroeconomics Samuel Tombs said: “The modest 0.4% increase in manufacturing output, following a cumulative 1.8% decline over the previous three months, was disappointingly weak, but surveys still are consistent with fairly healthy growth ahead. Overall, today’s report should leave the MPC confident that quarter-on-quarter GDP growth likely will rise to 0.4% in Q2…”
