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As on Aug 02, 2021 12:00 AM Your results on : Currency News    
Currency Buzz: GBP/USD Poised To Fall Below 1.39 Level; UK Manufacturing Slows
02-Aug-2021 (16:01)

The Great Britain pound came off its highs against the dollar by the end of last week and is lingering at the lower levels on Monday. After testing a one-month high in the previous week, GBP/USD remains muted on Monday and is currently seen quoting at 1.3907. The dollar index seen edging back to 92 levels after breaking the level is reflecting weakness in the pound. Meanwhile, UK manufacturing sector growth slowed in July as supply gridlock resulted in a moderate deceleration in the rates of expansion of production, new orders and job creation, final survey results from IHS Markit showed on Monday. The Chartered Institute of Procurement & Supply manufacturing Purchasing Managers' Index came in at 60.4 in July, in line with flash estimate, but down from May's record high of 65.6. Nonetheless, the index signalled expansion for 14 months.

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