The GBP/USD has seen a muted reaction to the latest data on the UK manufacturing sector and remains just below the 1.29 handle against the US dollar.
The PMI reading of 56.7 is above consensus expectations and whilst it is below the 3-year high seen last month, it still represents a strong pace of growth and indicates strength in the sector.
This data point is clearly a positive for the UK economy. However, GBP traders are putting macro releases on the back burner at present, with the twists and turns in the race for upcoming election having a greater impact on the market of late.
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