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The British Pound strengthened against the Greenback, following UK Services PMI data release on Tuesday. The GBP/USD currency pair gained 22 pips, or 0.17%, to continue fluctuating in the 1.3373 area.
The Markit released UK Services PMI data that came out better-than-expected of 54.0, compared to 52.8 in the previous period. Chris Williamson, Chief Economist at Markit, noted:
"The improvement in service sector activity adds to evidence that the economy is on course to rebound in the second quarter but, like the earlier manufacturing and construction surveys, raises questions about the outlook."
| Historical Data Table: UK Services PMI | Economic Calendar for 06.06.2018 | ||||||||
| Date | 05.02.2018 | 05.03.2018 | 05.04.2018 | 03.05.2018 | 06.06.2018 | 12:30 PM | CAD Trade Balance | ||
| Actual | 53 | 54.5 | 51.7 | 52.8 | 54 | 12:30 PM | CAD Building Permits m/m | ||
| Forecast | 54.1 | 53.3 | 53.9 | 53.5 | 52.9 | 12:30 PM | US Trade Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.33352 | 1.33578 | 0.17% | GBP/USD | 65.21% | 34.79% | |||
| EUR/GBP | 0.87823 | 0.87655 | -0.19% | EUR/GBP | 26.78% | 73.22% | |||
| GBP/CAD | 1.7222 | 1.72559 | 0.20% | GBP/CAD | 70.65% | 29.35% | |||
| GBP/JPY | 146.427 | 146.697 | 0.18% | GBP/JPY | 40.45% | 59.55% | |||