Sterling steadies despite disappointing economic data

The British pound held steadily on Wednesday, despite the release of disappointing economic data and fears about the coronavirus crisis.

British Prime Minister Boris Johnson revealed a new plan to tighten the lockdown restrictions in the UK, to curb a second wave of infections. 

The plan includes earlier closing times for pubs, nightclubs and restaurants, and could stay in place for the next six months.

Otherwise, data showed today that the UK's manufacturing PMI fell to 54.3 points in September, on par with forecasts, vs. August's reading of 55.2.

The services PMI fell to 55.1 points vs. 58.8 in August, which came lower than forecasts of 57 points.

As of 19:55 GMT, GBP/USD held at 1.2727, after hitting a day high of 1.2776 and a low of 1.2677.