Sterling Hits Buffers Again

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Data just out indicated that manufacturing activity in the UK deteriorated for April, raising doubts over the pace of the economic recovery in the second quarter. This comes on the back of surprisingly downbeat UK GDP data released last week and has provided additional impetus to calls of further easing in Britain.

In absence of key catalysts in Europe, market focus in today’s trading session is likely to be on the US, wherein manufacturing activity is expected to indicate a slower pace of expansion for April. The manufacturing sector in the US seems to be losing steam as highlighted by yesterday’s sharp decline in regional business activity indices.

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Sterling Hits Buffers Again

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