The pound is trading around the same levels this morning as the markets await more economic data releases tomorrow and next week.
The UK’s ‘Merger and Acquisition’ activity is reportedly keeping the pound supported, however, as the UK has made $343.1BN worth of M&As this year, which is the highest since 2000 and signals a confidence in UK assets.
The manufacturing PMI figure for the UK came in at 60.3 in August, similar to July’s final reading of 60.4. This indicates the slowest pace of expansion in the sector since March, although it remained strong overall.
It’s a light day for UK data today, but services PMI figures will be released tomorrow.
