Weak Factory Data Knocks Dollar As Brexit Delay Hopes Boost Pound

By Investing.com---

The dollar pulled back on Wednesday as weak U.S. manufacturing stoked wagers on aggressive policy easing, while the British pound recouped losses in the wake of a parliamentary vote that opened the door for another Brexit delay.

Manufacturing activity in the world's biggest economy contracted for the first time in three years last month, according to the Institute for Supply Management.

That knocked the wind from the greenback and rallied the bond market as investors increased bets on a couple of Federal Reserve rate cuts before Christmas. Read more on Investing.com

Please sign in to make comments.

  • Trending market news & market moves
  • Forex Forecast & Analysis
  • Experts opinions
  • Upcomming Webinars & Seminars
Subscribe to Our Newsletter