Sterling trims losses after better-than-expected PMI data

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Reuters UK

By Joice Alves LONDON (Reuters) -Sterling trimmed some of its losses on Thursday after better-than-expected UK PMI numbers for June, but the pound remained vulnerable to political risks and recession fears. The PMI’s preliminary composite index held at 53.1 in June, above the median forecast of 52.6 in a Reuters poll of economists, and unchanged from May. The pound flattened against the U.S. dollar to $1.2261 at 1505 GMT, having earlier fallen below $1.22. Against a weakening euro, sterling rose 0.3% on the day at 85.83 pence, having earlier touched a one-week low.. [FRX/] “Markets are likely …

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