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Cable anchored at six-month lows as PMI data disappoints

The pound nudged lower after the data here, which showed a further slump in services activity. The continued downturn is prompting a call by S&P Global that the UK economy will contract by 0.4% in Q3, underscoring the faltering momentum in the second-half of the year. GBP/USD is down 0.3% to 1.2250, hanging around its lowest levels since March:The drop in the pair continues after breaks below the 200-day moving average (blue line) and also the May low of 1.2308 yesterday.There is little support... Read More

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Content Topics

Cable

Anchored

Six

Month

Lows

Data

Disappoints

Six month

Forex

Posted: Sep 22 2023, 09:03

Author Name: forexlive

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