The Sterling ignored the UK services PMI report, with the GBP/USD currency pair revealing a little initial reaction just after data came in.
Activity in Britain’s services sector rose unexpectedly quickly in December, while businesses were more optimistic about the outlook, despite Brexit lingering weigh on investment plans. The Markit/CIPS indicated that the country’s services PMI increased to 54.2 in the observed month, the second-strongest rate since April. Along with manufacturing and construction surveys released this week, the economy is expected to reveal up to 0.5% growth in the last quarter of 2017. Meanwhile, consumer spending remained affected by price overheating caused by Brexit vote and weak pay growth.
