The GBPUSD pair’s price crashed to the lowest level since Monday as investors continued to worry about the condition of the UK economy. The latest data shows that the remarkable recovery that happened earlier this year already started fading. For example, data published by Markit showed that the construction PMI declined from 55.2 in August to 52.6 in September. The country also faced substantial supply shortages and problems in the labor force. There is also an ongoing fuel shortage. Therefore, there is a likelihood that the country’s economy will continue to struggle in the near term.
Looking forward, today the UK will release its monthly Halifax HPI and in the US the Unemployment Claims and Ivey PMI are going to be released.
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