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The pound had already been under pressure this morning, due to Brexit worries.

The slowdown in UK manufacturing has now dragged it back below $1.29, down 0.5% today.

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Duncan Brock, Group Director at the Chartered Institute of Procurement & Supply, is also alarmed by the slowdown across UK factories.

“Fears for a stalling manufacturing sector took a step closer to becoming a reality this month with the most disappointing performance for two years. “The lifeline of strong export orders enjoyed since May 2016 dried up, as the attraction of a weaker pound was not enough to sustain the momentum…..

With a subdued global economy threatened by escalating trade wars and Brexit uncertainty making its mark, it’s unclear where future opportunities to sustain the health of the sector will come from.

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Read More UK factory growth stumbles amid trade wars and Brexit uncertainty – business live

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