3 Dec 2013
Flash: GBP enjoying UK performance – BTMU
FXstreet.com (London) - Lee Hardman, strategist at the Bank of Tokyo-Mitsubishi UFJ, Ltd noted the effects the positive data his having on the pound.
Key quotes:
“Pound upward momentum has been reinforced by further evidence yesterday
that the UK economy continues to outperform”.
“The manufacturing PMI survey increased by 1.9 point to 58.4 in November reaching its highest level since February 2011”.
“The new orders sub-component was even more buoyant rising to it’s highest level in nineteen years, while employment also strengthened further reaching its highest level in two and a half years”.
“Domestic factors remain the main driver of strength, with the new export orders sub-component more modest at 54.8”.
Key quotes:
“Pound upward momentum has been reinforced by further evidence yesterday
that the UK economy continues to outperform”.
“The manufacturing PMI survey increased by 1.9 point to 58.4 in November reaching its highest level since February 2011”.
“The new orders sub-component was even more buoyant rising to it’s highest level in nineteen years, while employment also strengthened further reaching its highest level in two and a half years”.
“Domestic factors remain the main driver of strength, with the new export orders sub-component more modest at 54.8”.