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The British Pound appreciated against the US Dollar, following the UK Services PMI release on Wednesday at 08:30 GMT. The GBP/USD exchange currency rate gained 14 pips or 0.11% right after the release. The data release did not affect significantly the currency exchange rate. The rate continued trading at the 1.2820 level.
The Markit released UK Services PMI data, which came better-than-expected. The index was 54.3 compared with forecast 53.9.
The Markit comments: "Backlogs of work increased for the fourth month running in August, which pointed to sustained pressure on operating capacity at service sector companies. A number of firms linked rising volumes of unfinished business to difficulties replacing departing staff".
| Historical Data Table: Services PMI | Economic Calendar for 05.09.2018 | ||||||||
| Date | 05.04.2018 | 03.05.2018 | 06.06.2018 | 04.07.2018 | 05.09.2018 | 12:30PM | CAD Trade Balance | ||
| Actual | 51.7 | 52.8 | 54 | 55.1 | 54.3 | 14:00 PM | CAD BOC Rate Statement | ||
| Forecast | 53.9 | 53.5 | 52.9 | 54 | 53.9 | 14:00 PM | CAD Overnight Rate | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.281 | 1.28192 | 0.07% | GBP/USD | 58.55% | 41.45% | |||
| EUR/GBP | 0.90224 | 0.90206 | -0.02% | EUR/GBP | 26.98% | 73.02% | |||
| GBP/CAD | 1.69018 | 1.69096 | 0.05% | GBP/CAD | 72.73% | 27.27% | |||
| GBP/JPY | 142.848 | 142.907 | 0.04% | GBP/JPY | 54.42% | 45.58% | |||