Published by Jamie JemmesonSterling was at $1.5690 in foreign exchange trading in London late in the day yesterday (December 1st), as uncertainty remains about the strength of the UK economy.According to Reuters, the pound briefly reached a high of $1.5746, up 0.2 per cent on the level seen the previous day and remained close to the $1.5780 touched on Wednesday.Meanwhile, the euro was at 85.80 pence, a 0.2 per cent rise, although experts are anticipating that the pair will trade at a lower level in the near future.A trader in London is quoted by the news source as saying: "I think eventually short risk trades will be re-established, but right now the next 50 pips could go either way."The foreign exchange market may have been impacted by the latest Markit/Chartered Institute of Purchasing and Supply Purchasing Managers Index, which revealed that output in the UK manufacturing sector fell for a second month in a row.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site