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Pound dips below $1.32 after post-Brexit UK business activity contracts

Published 07/22/2016, 06:16 AM
Updated 07/22/2016, 06:16 AM

Investing.com – The pound dipped below $1.32 after post-Brexit UK business activity contracted.
Sterling was down 0.43% at $1.3175 at 06.00 ET after a high of $1.3287.
Markit said its flash UK July services PMI fell to 47.4 from 52.3 in June vs. a forecast of 48.9.
The manufacturing PMI fell to 49.1 in July from 52.1 in June vs a forecast of 47.8.
A reading below 50 indicates a contraction.
The figures could increase the chances of a BoE rate cut in August.

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