British Pound Plummets as Strong US Jobs Data Sends DXY Near 102

The British Pound has fallen by over 0.44% on Thursday as business activity in the manufacturing sector remains solid in the US, while US jobs data confirmed the strength of the labor market.

Consequently, this pushed US yields higher and the US Dollar also rose. The DXY, which measures the buck's performance against six currencies, is at 101.94, on the verge of challenging the 102.00 mark.

The ISM Manufacturing PMI in September was 54.5, below estimates of 55, but new orders and employment rose, with the former up from 53.7 to 55.3 and the latter edging up from 51.2 to 52.7.

Prime Minister Andy Burnham hinted at making changes to pensions and put back into the table a potential re-joining to the European Union, which could be seen as a positive by the foreign exchange market.