UK Preliminary Services PMI drops to 53.7 in June vs. 54.8 expected

UK Manufacturing PMI declines to 46.2 in June, disappoints markets.
Services PMI in the UK comes in at 53.7 in June, misses expectations.
GBP/USD challenges bulls near 1.2700 on disappointing UK business PMIs.

Dhwani Mehta FXStreet

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) fell to 46.2 in June versus 46.8 expected and, 47.1 - May’s final readout.

Meanwhile, the Preliminary UK Services Business Activity Index for June dipped to 53.7 compared with a 55.2 final print for May and 54.8 expected.

FX implications

GBP/USD is flirting with 1.2700, keeping the red on the downbeat UK Manufacturing and Services PMI data. The currency pair is losing 0.35% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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