Sterling, Gilts Show Little Reaction to U.K. PMI as Iran War in Focus

Dow Jones
Jul 24

0911 GMT - Sterling and U.K. government bonds show little reaction to a stronger-than-expected U.K. purchasing managers' survey as investors focus on the U.S.-Iran conflict. The composite PMI measure of business activity rose to 52.1 in July, exceeding the 49.8 consensus in a WSJ survey. The Middle East conflict has flared up in recent days, lifting oil prices. A sustained cooling in prices and improvement in business confidence is "by no means assured," S&P's Chris Williamson says in the survey's press release. Sterling rises 0.1% to $1.3324 while the euro trades flat at 0.8541 pounds, little changed from before the data. The 10-year gilt yield falls 5.1 basis points to 5.060%, Tradeweb data show, as oil prices fall from high levels. (renae.dyer@wsj.com)

 

(END) Dow Jones Newswires

July 24, 2026 05:11 ET (09:11 GMT)

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