UK: Data casting doubts over the health of economy – Investec

FXStreet (Delhi) – Research Team at Investec, note that the UK Service PMI witnessed a sizeable miss yesterday, dragging the Pound lower against its rivals as forward looking data continues to soften in major economies globally.

Key Quotes

“With the Service sector accounting for 80% of UK GDP it is easy to understand the market's concern over the lower purchasing gauge reading - although it is worth noting we remained above the expansionary 50 mark.”