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GBP/USD slips slightly even as UK services PMI slightly beats estimates
The February flash PMI readings for the UK (Services, manufacturing and composite) have just been released. The focus here is on the Service sector reading, as noted in an earlier update. That was forecast to drop back ever so slightly, to 54.1 from 54.3. It has just matched the previous reading at 54.3. The manufacturing was slightly softer than expected, but the composite index has beaten forecasts. The GBP/USD was trading at 1.2690 as this data broke. It has fallen back a bit more now, as the EUR/USD continues to edge back from that earlier high at 1.0888. The GBP/USD is not so impressed by this PMI data it seems, but we should remember things in there service sector are still expanding above 50. The GBP/USD is just now trading at 1.2677
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