Mixed US Data Keeps Fed Hawkish Bets Alive for GBP/USD

The British Pound has stalled in its movement against the US Dollar due to mixed economic data from the United States, which keeps bets alive for a potential interest rate hike by the Federal Reserve.

A survey of manufacturing activity in August revealed a decrease to 54.6, missing forecasts and indicating that new orders slowed while input prices remained high.

However, jobs market signals remain resilient, with vacancies increasing to 7.217 million, below forecasts of 7.3 million.

The Bank of England's Monetary Policy Committee member Catherine Mann has stated that 'interest rates should be a little bit too high and then of course correct if necessary', adding that she has seen 'somewhat stronger economic activity' since the last meeting.