The results of the latest survey of trends in the manufacturing sector carried out by the Confederation of British Industry (CBI) pointed to an unexpected easing of price pressures.
In the survey, the Domestic Price Expectations sub-index in June it fell to its lowest level since September to 58 from May’s reading of 75.
Commenting on the survey, CBI Deputy Chief Economist Anna Leach said: “We may be seeing the first signs that the weakness in activity is starting to slow down the pace of price increases in the sector“.
The pound is trading without significant change on Tuesday. GBP/USD trades near 1.2300, two-day highs, while EUR/GBP hovers around 0.8580, continuing sideways trend.
Source: Fx Street
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