Blog


Pound gains after strong PMI data

Sterling jumped almost half a cent against the dollar on Wednesday after a survey of Britain’s dominant services sector showed activity at a three-month high in March and beating all forecasts in a Reuters poll.

The Markit/CIPS Services Purchasing Managers’ Index (PMI), a closely watched gauge of Britain’s services sector, rose to 55.0 in March, up from 53.3 in February.

Sterling jumped to $1.2489 after the data, from around $1.2440 beforehand and leaving the currency up around a third of a percent on the day.

Against the euro, the pound also climbed a third of a percent, trading as strongly as 85.505 pence per euro, from 85.82 pence before the data.

British government bond futures briefly fell to a session low, down more than 20 ticks on the day, before paring losses and standing little changed from before the data at 128.23, 14 ticks below Tuesday’s close.

Leave a Reply

Your email address will not be published. Required fields are marked *

sixteen + sixteen =

What's Going On?

Currencies 4 You Limited is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House, Victory Way, Admirals Park, Crossway Dartford, DA2 6QD. Currencies 4 You's Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Ebury Partners UK Ltd is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. Reference number: 900797. Ebury Partners UK Ltd is registered with the Information Commissioners Office, with registration number: Z209673X | Terms and Conditions | Privacy Statement | Careers