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Mixed UK June PMI data sees miss on Services- EUR/GBP mostly unchanged so far

The June flash UK PMI data has just been released. The markets were looking for a very slight improvement in the services, manufacturing and composite readings, of about 0.1% in all three. The actual data has come in lower . The Service sector reading was at 52.6, down from 53.2 and below the 53.5 reading forecast. The manufacturing data was a little better, but the service sector is the one that matters most for the UK.  An earlier update noted the focus here on the EUR/GBP, in respect of this data and how that might be impacted, depending on what the data revealed. Well, this has not moved too much on the topside after this, and that is probably because of the fact that the UK numbers are still expanding, where that is not the case in France and Germany. That said, this data might have stalled the downside move seen earlier in the Euro. The EUR/GBP is currently trading at 0.8448 
 

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