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    GBP/USD Fell to 1.5640 After U.K. Manufacturing PMI Slows

     

    Cable fell from 1.5710 to 1.5670 following the weaker than expected UK June Manufacturing PMI which dropped to 51.4 in June versus the median forecast of 52.5. The previous month was 51.9 in May).  While new orders rose, export orders fell for a third month. The pound continued to sag in the European session to the low of 1.5640.

    The Bank of England also sait that it stands ready to take any actions required in response to the worsening Greece debt situation. BOE  Governor Carney said the possiibilty of a Greek exit from the euro zone was one the BOE had prepared for.

    GBP.7.1 resized 600 

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