UK Preliminary Services PMI rebounds to 50.2 in May vs. 50 expected
- UK Services PMI recovered to 50.2 in May, beating expectations.
- Manufacturing PMI in the UK dropped to 45.1 in May.
- GBP/USD holds minor gains above 1.3400 after UK business PMIs.
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dipped to 45.1 in May from 45.4 in April. The data missed the market forecast of 46 in the reported period.
Meanwhile, the Preliminary UK Services Business Activity Index jumped to 50.2 in May versus April’s 49 while bettering the expected 50 figure.
FX implications
Mixed UK PMIs fail to inspire the Pound Sterling, as GBP/USD adds 0.04% on the day at 1.3425, 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 New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.10% | -0.03% | -0.37% | -0.01% | -0.24% | 0.13% | -0.00% | |
| EUR | -0.10% | -0.13% | -0.50% | -0.12% | -0.34% | 0.02% | -0.11% | |
| GBP | 0.03% | 0.13% | -0.37% | 0.00% | -0.20% | 0.14% | 0.02% | |
| JPY | 0.37% | 0.50% | 0.37% | 0.38% | 0.16% | 0.50% | 0.36% | |
| CAD | 0.00% | 0.12% | -0.01% | -0.38% | -0.21% | 0.14% | 0.00% | |
| AUD | 0.24% | 0.34% | 0.20% | -0.16% | 0.21% | 0.36% | 0.21% | |
| NZD | -0.13% | -0.02% | -0.14% | -0.50% | -0.14% | -0.36% | -0.14% | |
| CHF | 0.00% | 0.11% | -0.02% | -0.36% | -0.01% | -0.21% | 0.14% |
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.
