Sterling Remains Weaker, Gilt Yields Lower After U.K. PMI Data -- Market Talk

Dow Jones03-24

0956 GMT - Sterling remains weaker against the dollar and the euro after a measure of U.K. manufacturing and services activity fell more than expected in March. Gilt yields also remain lower. The provisional composite purchasing managers' index fell to 51.0 in March from 53.7 in February. Economists in a WSJ survey had forecast 52.5. The survey showed cost pressures accelerated rapidly as energy prices rose due to the Middle East conflict. Business confidence also dropped. Sterling falls to an intraday low of $1.3376, versus $1.3385 before the data. The euro rises to an intraday high of 0.8658 pounds, from 0.8651 beforehand. Ten-year gilt yields are last down 1.6 basis points at 4.918%, Tradeweb data show. (renae.dyer@wsj.com)

 

(END) Dow Jones Newswires

March 24, 2026 05:56 ET (09:56 GMT)

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