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US Manufacturing PMI revised higher- GBP/USD skids lower as US yields rise
The Dollar has just now gotten another lift from an upwardly revised US PMI release. The February manufacturing data has been revised higher, to 52.2 from 51.5 and once again the contrast between US and European manufacturing output it clear to see. The Pound seems to have reacted the most of all to this news and fallen to fresh session lows. The GBP/USD is close to testing the 1.2600 handle now, as the EUR/USD eyes 1.0800 once more. Now this might all change shortly (at 3pm), when the ISM data hits the screens. Of course, it that ISM data beats forecasts then it will only serve to underpin the dollar further
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