British pound reaches 11-month maximums as UK services activity gains

British pound reaches 11-month maximums as UK services activity gains

On Thursday, the British pound rallied to the highest value since September versus the American currency after data telling that activity in UK service sector surged in June.

The currency pair GBP/USD showed 1.3266 - the most impressive reading since mid-September 2016.

According to financial data company Markit, its services purchasing managers’ index climbed up to 53.8 the previous month, compared to June’s result of 53.4. Experts hoped it would leapt to 53.6.

British companies informed that new business remained firm and hiring gained, but business expectations were relatively poor as uncertainty over Brexit kept weighing.

The British pound’s profits were held in check ahead of the BoE’s monetary policy gathering later on Thursday. Britain’s key bank was supposed to hold interest rates intact at record minimums as the risks from Brexit kept looming.

The pound grew versus the common currency, with EUR/GBP sliding 0.33% being worth 0.8936.

Similar

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera