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.
