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GBP/USD falls back from session highs after UK PMI data slips
The equivalent UK PMI data to that which was released earlier from France, Germany and the EU has just been released and it was shy of expectations. Despite missing forecasts both readings on Manufacturing and services remained above 50. However, there is no getting away from the fact this data was not expected and also not especially positive leading into the UK budget next week. The GBP/USD had managed to rebound close to 1.2975 earlier this morning. This data has helped to push it back below 1.2950. The Pound is right now trading at 1.2951
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