British Pound (GBP) Latest Developments: UK PMIs Upbeat, US Dollar Weakens
Thursday, 22 February 2024, 10:38
Latest Developments in the British Pound (GBP)
The latest UK Services and Manufacturing PMI data reveals a positive outlook for the British economy in Q1 2024, with growth expected at 0.2-0.3%. The Bank of England's stance on the short-lived nature of the UK recession is being supported by these findings.
Impact on GBP/USD Exchange Rate
The upbeat UK PMIs have contributed to a strengthening of the British Pound against the US Dollar. The weakening of the US Dollar has further propelled the GBP/USD pair to higher levels.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.