Latest data released by Markit - 3 December 2018
- Prior 51.1
A decent beat on estimates there but it's not something that will stir a major pop in the pound. It's a good recovery from October as new orders grow once again following the contraction last month but export orders fall once again, the first time we're seeing back-to-back contraction in that area since 2016.
GBP/USD with a mild jump from 1.2775 to 1.2785 on the back of this but I don't expect any more follow through to come from the data here. It's still very much a risk/dollar story as well as a Brexit story for the pair now.
