After a weak start to the day, sterling strengthened slightly against the dollar yesterday afternoon. This was due to positive data from the US, which caused the greenback to edge lower, and UK manufacturing data that revealed a small increase in output.
UK Manufacturing PMI was confirmed at 50.1 in June 2020, up from 40.7 in the previous month and moving into expansion territory. This rose for the first time in four months due to the easing of lockdown restrictions.
Later today, the Bank of England will release its Financial Stability Report, which will reveal more about the health of the UK economy.
