Sterling declined despite upbeat UK PMI

Sterling declined despite upbeat UK PMI

Apr 07 2015

The U.K Services PMI is an important indicator which is based on a survey of purchasing managers in the services sector.

The index declined to 56.7 in February, while it has increased above expectations during the month of March and recovered hitting 58.9 points, which indicates a slight recover of the British economy.

However the British Pound has continued its bearish trend and now remains trading around $1.4850, as it has been affected by the strong recover of the U.S Dollar against the major currencies. The Sterling has also dropped due to the political worries which have overshadowed the strong UK economic data.

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