Sterling briefly pares gains after below-forecast UK PMI

Reuters

LONDON (Reuters) - Sterling briefly pared gains against the dollar on Tuesday after a survey showed growth in Britain's manufacturing sector slipped in September from a two-year high the previous month on less robust export orders.

Its falls were limited as the data remained strong despite being slightly below forecasts. Details revealed employment and prices rose at their fastest pace in two years and are likely to leave intact the view that the UK economy is gathering strength.

Sterling fell to $1.6220 (1.000 pounds) from around $1.6233 just before the data was released. It was last at $1.6227, up 0.25 percent on the day.

Earlier in the day it hit a nine-month high of $1.6260 as a U.S. partial government shutdown pressured the dollar broadly.

(Reporting by Jessica Mortimer)

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