GBP

Sterling on the decline

Sterling slides due to historically bad reports on factory output.

The Sterling fell versus the dollar on Monday due to the UK factory output showing the biggest monthly drop since 2012.  GBP/USD was down .19% to 1.3382 as of 11:20 AM Eastern.

Others reports showed that Britain’s trade deficit had widened and the economy grew by just 0.2% which suggests that Brexit had a poor impact on the economy.

EUR/GBP was also up .51% on the day to .8823 as of 11:20 AM Eastern which also displays the Sterling’s poor showing.