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UK Service sector PMI revised higher- GBP/USD lifts a bit more
The revision to the UK November service sector PMI data has just hit the screens. The markets were expecting that to remain unchanged at 50. It has been revised higher, to 50.8. The composite reading has also been revised higher, from 49.9, to 50.5. This has helped the Pound to rebound. The GBP/USD was already edging off the lows and this data has helped that to extend a bit more. It might have saved it from the fallout after the comments earlier from Bailey, but we shall have to see, if that is the case. The GBP/USD is currently trading at 1.2663
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