The British Pound depreciated against the US Dollar, following the UK Flash PMIs survey results release on Friday at 08:30 GMT. The GBP/USD exchange currency rate lost 21 pips or 0.16% after the release. The Pound continued trading at the 1.3065 level against the Greenback after the release.
Markit released the UK Flash Services PMI survey results, which came out better-than-expected of 52.3 compared with the forecast of 53.4.
According to the official release: "UK private sector companies indicated another overall increase in business activity during October, but the rate of expansion slowed considerably since the previous month. This reflected a much weaker contribution from the service economy, with survey respondents often commenting on tighter restrictions across the hospitality sector and the impact of local lockdowns on general consumer spending. As a result, service providers reported a decline in new business for the first time since June, which contrasted with another solid expansion in new orders received by manufacturing companies in October."
| Date | 23.06.20 | 24.07.20 | 21.08.20 | 23.09.20 | 23.10.20 |
|---|---|---|---|---|---|
| Actual | 47.0 | 56.6 | 60.1 | 55.1 | 52.3 |
| Forecast | 39.1 | 51.4 | 57.0 | 57.0 | 53.4 |
| Pair | Open | Close | Change |
|---|---|---|---|
| EUR/GBP | 0.90392 | 0.90488 | 0.11% |
| GBP/CAD | 1.71962 | 1.71762 | -0.12% |
| GBP/JPY | 137.08000 | 136.877 | -0.15% |
| GBP/USD | 1.31033 | 1.30827 | -0.16% |
| Pair | Longs | Shorts |
|---|---|---|
| EUR/GBP | 58.6% | 41.4% |
| GBP/CAD | 68.9% | 31.2% |
| GBP/JPY | 48.1% | 51.9% |
| GBP/USD | 47.8% | 52.2% |
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