Pound Higher vs. Dollar on UK Services PMI, Fails to Beat Yen

The Great Britain pound rallied against the US dollar for the fourth straight trading session, reaching the highest level in month and a half, after the UK services sector demonstrated a strong bounce last month. The currency was mostly higher against other majors as well but fell versus the Japanese yen, ending its four-day streak of gains.
The seasonally adjusted Markit/CIPS UK Services Business Activity Index climbed from 47.4 in July to 52.9 in August, exceeding analysts’ predictions by a wide margin and returning into the expansionary zone. It was the biggest monthly gain on a record. It is interesting to note that the gain followed the July drop, which was also the biggest in history.
GBP/USD went up from 1.3299 to 1.3332 as of 10:06 GMT today, and its daily high of 1.3375 was the highest since July 15. GBP/JPY fell from 138.38 to 137.65.

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