UK Preliminary Services PMI edges lower to 51.2 in June vs. 53.0 expected
- UK Services PMI unexpectedly declines to 51.2 in June.
- Manufacturing PMI in the UK rises to 51.4 in June.
- GBP/USD holds lower ground near 1.2650 after mixed UK business PMIs.
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) increased from 51.2 in May to 51.4 in June, beating the market consensus of 51.3.
Meanwhile, the Preliminary UK Services Business Activity Index fell to 51.2 in June, missing the market consensus of 53.0. The previous figure stood at 52.9.
Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “Flash PMI survey data for June signal a slowing in the pace of economic growth, indicating that GDP is now growing at a sluggish quarterly rate of just over 0.1%.”
“The slowdown in part reflects uncertainty around the business environment in the lead-up to the general election, with many firms seeing a hiatus in decision-making pending clarity on various policies,” Chris added.
FX implications
GBP/USD remains on the back foot near 1.2650 after mixed UK PMI data. The pair is trading flat on the day, as of writing.
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.14% | 0.06% | -0.11% | 0.01% | 0.00% | -0.10% | -0.01% | |
| EUR | -0.14% | -0.09% | -0.22% | -0.13% | -0.10% | -0.24% | -0.16% | |
| GBP | -0.06% | 0.09% | -0.16% | -0.02% | -0.02% | -0.17% | -0.05% | |
| JPY | 0.11% | 0.22% | 0.16% | 0.12% | 0.12% | -0.00% | 0.13% | |
| CAD | -0.01% | 0.13% | 0.02% | -0.12% | -0.02% | -0.13% | -0.01% | |
| AUD | -0.01% | 0.10% | 0.02% | -0.12% | 0.02% | -0.16% | -0.02% | |
| NZD | 0.10% | 0.24% | 0.17% | 0.00% | 0.13% | 0.16% | 0.11% | |
| CHF | 0.00% | 0.16% | 0.05% | -0.13% | 0.01% | 0.02% | -0.11% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
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.
