The British pound fell sharply vis-à-vis the U.S. dollar today as cable tested bids around the US$ 1.4050 level and was capped around the $1.4485 level. Thousands of U.K. manufacturing workers went on strike today to protest the use of foreign workers at some U.K. plants. Data released in the U.K. today saw January manufacturing PMI improve to 35.8 from 34.9 in December. Manufacturing price pressures fell further last month and production and new orders sub-indices fell further. Cable offers are cited around the $1.4720 level. The euro moved higher vis-à-vis the British pound as the single currency tested offers around the ₤0.9080 level and was supported around the ₤0.8810 level.
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