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UK Services PMI beats with 54.5 – GBP/USD ticks up

The most important sector in Britain puts a brave face against Brexit: a score of 54.5 is already significant growth and much better than expected. This joins  a better than predicted construction PMI and an OK manufacturing one.

GBP/USD advanced in the high range, reaching 1.2345.

Update:  GBP/USD shoots up on court ruling

And another: Carney says rates can go both ways – GBP jumps

The third and final  purchasing managers’ index is the most important one: Markit’s services PMI. A small slide from 52.6 to 52.4 was on the cards.

GBP/USD was trading on high ground, around 1.2330 ahead of the publication. This time, the  release is somewhat overshadowed by bigger events: the court ruling on parliament’s role in Brexit and the Bank of England’s “Super Thursday”.



Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.