The Great Britain pound was rising every single day of this week and today was not an exception as the very good data about the service industry drove the sterling even higher.
The Markit/CIPS UK Services Purchasing Managers’ Index rose a little from 60.2 in July to 60.5 in August. Analysts have expected a drop to 59.3. The report said:
Augustâs survey of UK service providers signalled continued strong growth of activity and new business. Activity rose at the sharpest pace since December 2006, while growth in new work was the best seen since May 1997.
GBP/USD rose from 1.5555 to 1.5614 as of 14:45 GMT today. GBP/JPY advanced from 154.87 to 155.46, trading near the highest level since May 23.
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