Pound Rises After Better-Than-Expected U.K. Manufacturing Growth
- PMI beat economists’ forecasts for factory growth in July
- Data comes before BOE interest-rate announcement on Thursday
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The pound rose versus the dollar after data showed British manufacturing grew faster than expected in July, bolstered by the strongest jump in export orders in seven years.
Sterling is on track for its third day of gains as a report showed the IHS Markit’s factory Purchasing Managers Index climbed to 55.1 in July from 54.2 in June, above analysts’ estimates of 54.5.