UK Services PMI Adds to Strength of Pound

The Great Britain pound rose today as data showed that the service sector expanded last month faster than was expected, adding to signs of economic recovery in the United Kingdom.
The Markit/CIPS UK Services Purchasing Managers’ Index rose from 52.4 in March to 52.9 in April. Analysts have expected it to stay little changed. Today’s data added to the previous positive reports, proving that the UK economy is indeed on track to recovery.
GBP/USD rose from 1.5531 to 1.5545 and GBP/JPY ticked up from 152.08 to 152.49 as of 11:23 GMT today.

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