Poor Services PMI Doesn’t Add to Already Bearish Bias of GBP

Today’s report about UK services sector was rather negative, but it hardly affected the Great Britain pound that had already declined versus the US dollar and had retreated from the daily high against the Japanese yen.
The Markit/CIPS UK Services Purchasing Managers’ Index fell from 60.5 in August to 58.7 in September, trailing analysts’ estimates. The gauge joined other economic indicators in pointing out a struggle for UK economy to keep its growth momentum, making yesterday’s positive data an exception. The negative report had limited impact on the sterling that was falling anyway.
GBP/USD fell from 1.6143 to 1.63083 as of 9:13 GMT today. GBP/JPY traded at 175.12, retreating after the rally from 175.04 to 175.91.

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