Sterling steadies above 1.35 versus dollar
2017-12-01 19:07:00 GMT (
Sterling steadies above 1.35 versus dollar

Sterling tilted lower against the dollar away from the highest since September 25, while still heading for the fourth weekly profit in a row, following a basket of data from Britain and the US, the world's largest economy. 


As of 06:50 GMT, GBP/USD fell 0.11% to 1.3510 from the opening of 1.3525, with an intraday low at 1.3457, and a nine-week high at 1.3550. 


Earlier UK data showed the manufacturing PMI rose to 58.2, marking the highest since August 2013, and compared to October's 56.6 reading, as new orders and production hit four-year highs. 


Otherwise, earlier US data showed the ISM Manufacturing PMI down to 58.4 in November from 58.7 in October, while ISM Manufacturing Prices fell as well to 67.0 from 68.5, as construction spending accelerated to 0.5% from 0.3% in September. 


Federal Reserve Bank of Dallas President Robert Kaplan participated in a panel discussion at the Border Economic Development and Entrepreneurship Symposium, in Texas, while Federal Reserve Bank of Philadelphia President Patrick Harker spoke about approaches to economic growth at a policy forum hosted by the Federal Reserve Bank of Philadelphia.


Political concerns mounted amid accusation by the FBI against former Trump national security adviser Philip Flen of perjury, and expectations of easy conviction. 


Special investigator Robert Mueller, who's been investigating Russian interference with the US elections, lopped similar accusation to the Trump campaign, accusing Flen with cooperation with Russia and Ukraine to hurt US interests. 


Now markets await the Senate's vote on the tax reform bill supported by President Donald Trump, amid concerns about its impact on the federal deficit.

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