Forex: GBP/USD hits 1.5246

on Jul 1, 2013
Listen Monday July 1st:_ The pound firmed against the greenback during the Asian session today. Following the latest UK economic updates, the pair rose to 1.5246, a current session high and a gain of 0.37 percent so far.

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At 09:30 BST today, the UK Markit Manufacturing PMI data for June came out at 52.5, up from the revised reading of 51.5 for May. The index is now at its highest level since May 2011 and the average level in the March-June period represents the strongest growth in British manufacturing since the second quarter of 2011.

UK Consumer Credit, released by the BoE, rose £700 million in May, beating expectations for no change from April’s £600 million.
And UK Mortgage Approvals were logged at 58,242 in May, better than analysts expected and the highest level since 2009, indicating that the Bank of England’s credit-boosting programme is assisting the housing market. April’s revised figure was 54,354.


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GBP Forex