March 3, 2023 – Written by John Cameron
STORY LINK Pound US Dollar Exchange Rate News: GBP/USD Firmed on Stronger-than-Expected UK PMIs
Pound (GBP) Buoyed by Rebounding Service Sector
The Pound (GBP) enjoyed strong gains on Friday as the final reading for services PMI printed better-than-expected. Revised higher from a 53.3 preliminary reading, services jumped to 53.5, the quickest pace of improvement in eight months.
Exceeding forecasts when they first printed, the rebound in the service sector highlights a sector that finally returned to growth. Accounting for more than 80% of the UK’s economic output, the return to form buoyed GBP investors on a strong…
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