Pound Slips After Growth of Britain’s Services Sector Slows

The Great Britain pound fell against its most-traded rivals today, though held its ground against the US dollar, after growth of Britain’s services sector slowed unexpectedly.

The seasonally adjusted IHS Markit/CIPS UK Services PMI slipped from 54.2 in December to 53.0 in January. While the index stayed above the neutral 50.0 level, indicating that the sector continued to grow, the growth was the slowest in 16 months. Ahead of the report, analysts had predicted the indicator to stay little changed.

GBP/USD traded at about 1.4106 as of 11:05 GMT today after opening at 1.4102 and touching the daily high of 1.4150. GBP/JPY slid from 155.40 to 154.96.

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