Worries about a slowing U.S. economy and the possibility of further interest rat...
The pound sank 0.2% against the dollar to $1.2280. It was headed back toward an almost one-month low plumbed overnight as traders are increasingly nervous about Britain crashing out of the European Union at the end of the month.
The dollar also rose marginally against the yen, to 108.84 yen, but steadied against a basket of currencies .DXY at 99.159 while the manufacturing shock echoed through other markets, dragging bond yields and Asian stock markets lower. A figure below 50 signals the domestic factory sector is contracting. The reading is a bad omen for September U.S. labour figures due on Friday, BNY Mellon analysts said in a note, since moves are often correlated.
The Australian dollar, which hit its lowest in a decade on Tuesday after the Reserve Bank of Australia cut interest rates, bounced a little to $0.6716.
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