Investing.com – The pound pulled back from a two-month high against the U.S. dollar on Friday, despite the release of upbeat UK manufacturing activity data, as traders locked in profits from sterling’s recent climb thanks to signs of progress in Brexit negociations.
was down 0.27% at 1.3492 by 04:35 a.m. ET (08:35 GMT), just off a two-month high of 1.3550 hit overnight.
Data earlier showed that the UK manufacturing sector in November.
The report came amid signs of progress in negociations between the UK and the European Union, as EU diplomats said earlier in the week that Britain has moved to EU demands over Brexit.
Meanwhile, sentiment on the greenback remained vulnerable after the U.S. Senate on Thursday evening delayed a vote on the tax reform bill until Friday as a key element of the bill still needed to be debated.
However, the bill was seen like more likely to pass following .
Sterling was also lower against the euro, with up 0.33% at 0.8829.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex- Trump’s Fed Comments Continue to Weigh on Dollar - August 22, 2018
- Forex – Dollar Downward Spiral Continues as Trump Blasts Powell's Rate Hikes - August 21, 2018
- Trump Accuses China, EU of Currency Manipulation - August 21, 2018