GBP/USD: UK Markit Services PMI

The British Pound depreciated against the US Dollar, following the UK Markit Services PMI survey results release on Tuesday at 08:30 GMT. The GBP/USD exchange currency rate lost 13 pips or 0.11% right after the release. The British Pound continued trading at the 1.2305 level against the Greenback.

Markit released the UK Markit Services PMI survey results, which came out worse-than-expected of 49.5 compared to the forecast of 50.3.

According to the official release: "The latest IHS Markit / CIPS PMI data for the UK service sector signalled a contraction in activity in September, and the biggest cut in employment in over nine years. With both new and outstanding business declining at the end of the third quarter, companies were the least optimistic of future growth of activity since July 2016 following the EU referendum."