Yet Another Positive PMI Report Supports Sterling

The Great Britain pound ticked up today after yet another positive PMI report from the United Kingdom. The gains were relatively small compared to the yesterday’s rally as traders are cautious ahead of tomorrow’s policy decision of the UK central bank.
The Markit/CIPS UK Services Purchasing Managers’ Index jumped from 55.8 in December to 57.2 in January, exceeding analysts’ expectations. The report followed yesterday’s positive construction PMI data. The Bank of England will conduct its monetary policy meeting tomorrow, and experts think that the central bank will not change interest rate, neither the size of the asset-purchase program.
GBP/USD rose from 1.5165 to 1.5203 and GBP/JPY edged up from 178.30 to 178.65 as of 17:57 GMT today.

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