Sterling falls against dollar amid concerns over UK economy

Published by
Reuters UK

(Reuters) -Sterling fell against a strengthening dollar on Wednesday, with investors concerned about a deteriorating UK growth outlook, though sceptical about a further significant pound decline. British manufacturing activity expanded in May at the weakest rate since January 2021, as producers of consumer goods struggled against a worsening cost-of-living crunch. British house prices surged again last month, but a slowdown caused by the cost-of-living challenges is likely on the way, mortgage lender Nationwide said. The data raised new questions about the strength of Britain’s economy, where …

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