LONDON (Reuters) – The British pound fell to its lowest level in over a week against the dollar on Wednesday after a survey showed a slump in UK business activity in August.
The S&P Global/CIPS Purchasing Managers’ Index (PMI) tumbled to 47.9 in August from 50.8 in July, according to a preliminary estimate, the lowest level since January 2021.
The pound was last down 0.4% at $1.2683 – its lowest level since Aug. 14. It slipped 0.2% against the euro, with the single currency buying 85.30 pence.
(Reporting by Samuel Indyk; editing by Dhara Ranasinghe)
