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GBP/USD unfazed by lower UK PMI revisions

Following on from all the European PMI data revisions, the UK has just now released the same revision to the February readings on services and the composite count. The services number has been revised lower, to 53.8 from a prior number of 54.3. That also pushed the composite reading back to 53, from 53.3. Granted that is not especially positive, but we need to remember; that the UK is still expanding above 50, where most of Europe is not. So, the Pound has not reacted negatively to the data. That said, it is not exactly going anywhere either right now and certainly not outside of its most recent ranges. The GBP/USD is currently trading at 1.2684
 

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