Sterling pares gains versus USD as weaker-than-expected UK factory data weighs on sentiment.
The British Pound retreated to around 1.3450 against the US Dollar on Monday after the UK’s final Manufacturing PMI was revised downward. The move erased earlier gains that had pushed GBP/USD above 1.3500, a seven-week high.
The revised PMI print fell short of initial estimates, signaling weaker-than-anticipated activity in the manufacturing sector. Prior data had shown modest improvement, but the downward revision suggests lingering softness in factory output.
Sterling’s pullback reflects investor caution ahead of upcoming economic releases, with traders reassessing the UK’s growth outlook.