UK Preliminary Services PMI unexpectedly drops to 51.2 in July vs. 53 expected
The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) inched higher to 48.2 in July from 47.7 in June. The data beat the market forecast of 48 in the reported period.
Meanwhile, the Preliminary UK Services Business Activity Index unexpectedly dropped to 51.2 in July versus June’s 52.8 while coming in below the anticipated 53 figure.
FX implications
The Pound Sterling meets fresh supply on a downside surprise in the UK Services PMI, as GBP/USD loses 0.19% on the day at 1.3550, 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 weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | 0.19% | -0.06% | 0.06% | -0.22% | -0.09% | 0.12% | |
| EUR | -0.05% | 0.15% | -0.10% | 0.03% | -0.27% | -0.13% | 0.07% | |
| GBP | -0.19% | -0.15% | -0.26% | -0.13% | -0.42% | -0.29% | -0.08% | |
| JPY | 0.06% | 0.10% | 0.26% | 0.12% | -0.16% | -0.07% | 0.05% | |
| CAD | -0.06% | -0.03% | 0.13% | -0.12% | -0.26% | -0.16% | 0.04% | |
| AUD | 0.22% | 0.27% | 0.42% | 0.16% | 0.26% | 0.14% | 0.34% | |
| NZD | 0.09% | 0.13% | 0.29% | 0.07% | 0.16% | -0.14% | 0.21% | |
| CHF | -0.12% | -0.07% | 0.08% | -0.05% | -0.04% | -0.34% | -0.21% |
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.
