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GBP/USD edges a little higher following upward UK PMI revisions
The revised PMI data from the UK has just been released for the August reading on the service sector and composite reading. Both have been revised higher by 0.4%. This is a positive revision and it has helped to lift the GBP/USD slightly. The Pound has been languishing near 1.31 for most of this week, but did reject a sustained move below that level yesterday. The Pound closed in the US last night at 1.3114. The high seen just now has been set at 1.3128. The upward PMI revision is clearly good news, when compared to any European data released most recently (and revisions this morning), but is it enough to push the Pound substantially higher? That remains to be seen and of course we have some important US data to consider ahead of the weekend too- the latest monthly jobs report on Friday. The GBP/USD is currently trading at 1.3121
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