FOREX-Sterling steadies after opinion poll pummelling quoting : "Reuters"

Investing.com -Investing.com - The British pound dropped sharply in early Asia on Wednesday as an opinion poll on the June 8 election showed the conservatives losing ground. AUD/USD was last quoted down 0.08% to 0.7460 ahead of the China PMI manufacturing figures. China reports the official manufacturing PMI for May with a level of 51.0 seen, a dip from 51.2 in April. The private manufacturing PMI from Caixin is due on Thursday. The Commerce Department said that consumer spending, which accounts for roughly 70% of U.S. economic activity, rose 0.4%, in line with economists' forecasts.


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And we have a little bit of a pound recovery following the latest poll results from the UK." "We have a little bit of dollar strength following better U.S. data and some hawkish comments from Federal Reserve officials. For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets (Editing by Toby Chopra) With London markets closed for a holiday, the pound inched up 0.2 percent in thin morning trade in Europe, trading at $1.2825 and 87.13 pence per euro respectively. San Francisco Federal Reserve President John Williams said in Singapore on Monday that medium-term trends in U.S. inflation remained "pretty favourable," despite some recent soft consumer price data.


collected by :John Miller

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