Pound Slips Amid Strong US Data and Easing Oil Prices

The British Pound (GBP) slipped by 0.27% on Monday as the US Dollar recovers some ground following a pause in strikes on Iran.

The GBP/USD pair traded at 1.3439, down from its daily high of 1.3506.

The strong ISM Manufacturing PMI data for July contributed to the Pound's decline, as it improved from 53.3 to 55.6 and exceeded estimates of 54.

This boost in business activity in the manufacturing sector was accompanied by an increase in employment sub-components for the first time since 2023.