Published: 2024-05-23T08:44:13.000Z
GBP flows: GBP slips wih UK PMI

Senior FX Strategist
2
UK composite and services PMI weaker, manufacturing better, GBP lower.
Disappointing UK PMI with services dropping sharply. Although manufacturing improved, the composite is significantly lower than expected. EUR/GBP bouncing from 0.85 but upside looks quite limited with a June rate cut looking all the more unlikely given the July 4 election.