The third and last purchasing managers’ index from the UK followed the second one and beat expectations. Services PMI came out at 58.5 points for June, reflecting strong growth in Britain’s largest sector. This is above 57.4 expected and 56.5 seen in May.
GBP/USD advanced and hit a high of 1.5637 before bouncing back down. All in all, sterling is weathering the “flight to safety” storm that has a positive effect on the dollar and the yen.
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