Here's your Daily Currency Update – 1 June 2026

• Sterling found mild support after the UK Manufacturing PMI beat forecasts.
• UK PMI printed at 53.9, comfortably above the 53.7 expected.
• Dollar holding steady ahead of today’s US ISM Manufacturing PMI.
• Quiet Monday trading overall with light volumes.
• Current mid-market rates: GBP/EUR 1.1550 (0.8658), GBP/USD 1.3460, EUR/USD 1.1650.
• Week ahead highlights: Eurozone CPI tomorrow and US Non-Farm Payrolls on Friday.
• No major UK political developments moved markets in the past 24 hours.

Market Overview

In the past 24 hours sterling received a modest lift after the UK Manufacturing PMI for May came in stronger than expected at 53.9 versus the 53.7 forecast. This beat helped offset any earlier softness and kept the pound in relatively contained ranges. Markets are now turning their attention to today’s US ISM Manufacturing PMI release and any fresh comments from central bankers. Volatility remained low across the major currency pairs on this Monday start. No significant UK political announcements with market impact occurred over the weekend into Monday morning.

Looking forward, the remainder of the week centres on the Eurozone flash CPI reading on Tuesday and the key US employment report on Friday. These data points will help shape expectations around the pace of policy easing from the ECB, BoE and Fed.

GBP/EUR Analysis

Current Level: 1.1550 (0.8658) — 24h range approx. 1.1520–1.1575 (+0.18% net, total volatility span ~0.48%).

• UK Manufacturing PMI beat (53.9 vs 53.7) provided modest sterling support.
• Eurozone data releases were limited, keeping the euro steady.
• Pair traded in narrow ranges amid light holiday-affected flows in parts of Europe.
• Focus now shifts to tomorrow’s Eurozone inflation print.

Educational Note: Manufacturing PMI readings are closely watched as a timely gauge of industrial health and broader economic momentum. A beat like today’s can temporarily ease pressure on the currency by reinforcing expectations of steady (rather than aggressive) Bank of England policy. Tuesday’s Eurozone CPI will be the next major driver — any upside surprise there could strengthen the euro and test GBP/EUR resistance.

GBP/USD Analysis

Current Level: 1.3460 — 24h range approx. 1.3428–1.3482 (-0.12% net, volatility span ~0.40%).

• UK PMI strength offered some support to cable.
• Dollar remained firm heading into today’s US ISM data.
• Global risk tone stayed balanced with no major scares.
• Attention remains on US economic signals for further direction.

Educational Note: GBP/USD often moves on relative growth and policy expectations between the UK and US. Today’s UK PMI beat helped limit downside, but the pair stays sensitive to upcoming US labour-market data on Friday. Recent trading has been orderly; clear breaks of key round levels (such as 1.3500) typically trigger faster follow-through moves.

EUR/USD Analysis

Current Level: 1.1650 — 24h range approx. 1.1625–1.1672 (+0.11% net, modest volatility).

• Limited fresh Eurozone data kept the euro stable.
• US focus stays on today’s ISM PMI and any central-bank commentary.
• Divergence potential remains ahead of Eurozone CPI and US payrolls.
• Overall tone cautious with light positioning.

Weekly Economic Calendar

Events from the past 24 hours are reflected in the pair analyses above.

Conclusion

Today’s UK Manufacturing PMI beat gave sterling a small positive note on an otherwise quiet Monday. Currency markets remain in watchful mode ahead of tomorrow’s Eurozone CPI and Friday’s US jobs data. The coming days should bring clearer signals on growth and policy paths across the major economies.

This report is for informational purposes only and does not constitute financial advice. For tailored currency handling solutions, whether for personal transfers or business needs, contact Excel Currencies for a free quote.