England’s Services PMI weaker

Friday, 3 June 2011 12:53

Services Purchasing Managers' Index in Britain was released not long ago causing Sterling to weaken against some major currencies as news was weaker than expected.  Services PMI came out at 53,8 for May while expectations were released at 54.4; slighty higher than April's 54.3.  Although results were expected to come out higher than last month's announcement, PMI dropped; causing GBP/USD to also drop from trading at 1.6350 to a low of 0.6295.