British pound reaches day’s peaks

British pound reaches day’s peaks

On Wednesday, the British pound gained to the day’s peaks after survey data, which revealed that surge in the dominant British service sector picked up to a three month peak in March.

The currency pair GBP/USD inched up 0.27%, hitting 1.2473.

Financial data company Markit informed that the previous month its services purchasing managers' index inched up to 55.0, which is the highest value since February’s 53.3.

Financial experts had hoped for a reading of 53.5.

The report disclosed that businesses increased prices at the fastest pace for 8.5 years, thus indicating that inflation might go up above the 3% rate forecast by many experts this year.

Aside from that, the report also stressed that the rate of job creation in the sector leapt at the slowest pace for seven months.

The British pound managed to grow against the common currency, reacting to the data, with EUR/GBP slumping 0.27% at 0.8554 from about 0.8583 earlier.

 

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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