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GBP/USD Falls to new 2.5 year low on Negative Manufacturing PMI

The purchasing managers’ index for the UK’s manufacturing sector disappointed quite badly in February: it dropped from 50.8 to 47.9 points, well below expectations for a rise to 51 points. A score below 50 represents contraction.GBPUSD New Two and a half year low on weak manufacturing PMI March 1 2013

GBP/USD took the news quite badly, falling over a 100 pips and breaking below the previous low of 1.5069 to print a new low of 1.5055 before bouncing. Update: Also 1.5050 is lost and 1.5040 is the new low.

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