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UK PMI helps to reaffirm the market mood so far today

The UK PMI data here was weaker than estimated and that is reaffirming the sort of risk averse mood we're seeing so far on the session. Similar to the euro area readings earlier, this just prompts further questions about the resolve of the BOE and it comes just a day after they raised the bank rate by 50 bps in a surprise move.Sterling traders were already fearing that the aggressive path could end up breaking something in the economy along the way and an already early stutter towards the end of... Read More

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Posted: Jun 23 2023, 08:40

Author Name: forexlive

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