U.K Manufacturing Production

Friday, 10 June 2011 12:32

After United Kingdom's Manufacturing Production and PPI Input releases, GBP/USD went from trading at 1.6240 to 1.6210, but this didn't last long as Sterling recovered and jumped to trade at it's currenct point of 1.6290.

Factory Production in the U.K came out much lower than expected, plunging by 1.5%.  Expectations were that Factory Production would remain the same at approximately 0.0%.

Also, U.K Consumer Price Index was expected to drop by 1.2% for May from April's release of 2.8%; instead it fell further to 2%.