GBP/USD declines to a 17-month low on poor UK PMI

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Source: Investing.com
On Wednesday the Sterling slid to a new low for the past 17 months versus the US Dollar, as concerns over Greece exiting the Eurozone persisted along with poor UK data. GBP/USD hit 1.5115, the lowest since 2013, amid Yesterday's weak PMI data. UK PMI was lower than expected, dropped from 58.6 to 55.8, and met expectations that the Bank of England is likely to maintain interest rates on the same level for most of this year. UK Pound also remained steady versus the Euro, with EUR/GBP at 0.7844.


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