The report today showed the unexpected growth of Britain’s services PMI, helping the Great Britain pound to gain and causing the speculation that the central bank would keep its policy unchanged tomorrow.
Britain’s Services Purchasing Managers’ Index grew to 53.2 in October from 52.8 in September, while the analysts predicted the decline to 52.4. The good economic data caused the speculation that the Bank of England wouldn’t follow the US Federal Reserve into the quantitative easing.
GBP/USD rose from 1.6033 to 1.6102 today as of 12:56 GMT, but shows the tendency to decline. GBP/JPY surged from 129.35 to 131.07 and continues to rise.
If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.
Be First to Comment