The Sterling (GBP) was very weak after the sharp fall in April Factory PMI to 54.6 vs. 56.7 previously. Cable fell through 1.6500 on the back of this with EUR/GBP pushing above 0.9000. Overall the GBP/USD traded with a low of 1.6463 and a high of 1.6647 before closing the day at 1.6608 in the New York session. Looking ahead, April Construction PMI forecast at 55.5 vs. 56.4 previously.
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