The Great Britain pound gained today after a report showed that UK service industries advanced last month, easing concerns about recession of Britain’s economy and making the sterling again viable haven from Europe’s crisis.
The Markit/CIPS UK Services PMI rose from 54.0 to 56.0 in January from December. Service sectors demonstrated the strongest growth since March 2011. Business confidence and outlook also improved. The positive data relived to some degree the pessimism caused by the previous negative reports and reduced probability of additional stimulus from the Bank of England.
GBP/USD traded at 1.5814 as of 13:29 GMT after opening at 1.5801 and reaching the intraday maximum of 1.5859. GBP/JPY was higher from 120.43 to 120.53, while the daily high was 120.91.
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