GBP drops due to UK PMI

Source: Dukascopy Bank SA


On Tuesday, at 08:30 GMT, the GBP/USD plummeted because of the publication of the Markit Flash Manufacturing and Services Purchasing Managers Index survey results. The Pound lost value due to the revelation that the Services PMI was at 51.8 instead of the forecast 56.9.

The GBP/USD reacted to the news by dropping 103 base points or 0.82%.
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