The Pound US Dollar (GBP/USD) exchange rate fell by over 1.25% in the wake of weaker-than-expected UK PMI data and mounting recession risks. Overall, the GBP/USD fluctuated wildly to close the session at around the $1.2577 mark. Pound (GBP) Exchange Rates Weakened by Tumbling Economic Sentiment The Pound (GBP) started the week slowly amid a lack of data and a mixed market mood. Keeping Sterling propped up, however, were elevated rate hike bets from the Bank of England (BoE). Pressure soon returned to weigh down on Sterling as factory output slowed once more as revealed in the latest Confederation of British Industry ... (full story)