Home UK Final Services PMI beats estimates with 29.0 in May, GBP/USD unfazed below 1.26

UK Final Services PMI beats estimates with 29.0 in May, GBP/USD unfazed below 1.26

Updated: 3 Jun. 2020 | 10:32

UK Final Services PMI revised up to 29.0 in May.
GBP/USD holds the upside but below 1.2600.
The risk-on mood remains unabated amid economic optimism.

The UK services sector activity improved more-than-expected in May but remained into contraction, the final report from IHS Markit showed this Wednesday.

The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised higher to 29.0 in May versus 28.0 expected and a 27.8 – May’s first reading.

more to come …

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