Pound V euro: GBP climbs against EUR as UK manufacturing sees strong overseas demand
Although still close to the ten-month low hit towards the end of July, the GBP/EUR exchange rate has gained 0.3 per cent today to hit €1.118.
A surge in new export orders received by British manufacturers accelerated sector growth in July, according to the latest business survey.
The manufacturing PMI climbed from a seven-month low of 54.2 in June to 55.1 in July; well above market expectations of a rise to 54.4.
Weak pound exchange rates helped drive demand from overseas customers.
IHS Markit Director Rob Dobson said: “The headline PMI signalled a growth acceleration for the first time in... read more
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