GBP/USD hits weekly lows as UK manufacturing PMI drops to 48.0, lowest level since Feb 2013

The UK manufacturing sector activity downturn deepened further in the month of June, the latest survey report from IHS Markit showed this Monday. 

The seasonally adjusted IHS Markit/CIPS UK Purchasing Managers’ Index (PMI) plunged to 76-month lows of 48.0 in June versus 49.2 expected and a slump to thirty-four-month lows of 49.4 seen in May.