Sterling falls on weak manufacturing data

British pound fell during today against US dollar, following the weak manufacturing activity data released earlier today.

The data showed the manufacturing PMI in the UK fell to 48 in June, while analysts expected a reading of 49.5 points.

Net lending to individuals in Britain fell by about £3.9 billion, compared to expectations of a rise of £5.1 billion last month.

Most of the major currencies, including the British pound, were under pressure from the strength of the US dollar, which rebounded after the announcement of a US-China trade truce.

US President Donald Trump said the truce would provide an opportunity for the trade negotiations between the two countries to pave the way for a final deal.

In terms of trading, by 19:19 GMT, GBP/USD fell by 0.4% to $1.2642, and recorded the highest price at $1.2706 and the lowest price at $1.2632.