In June, the UK Final Services PMI was revised up to 62.4.
On the back of the UK report, the GBP/USD stays unaffected near 1.3850.
As the USD bounce fades, all eyes are on the US ISM Services PMI.
The final data from IHS Markit released on Monday revealed that the UK services sector expanded more than predicted in June.
In June, the seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised higher to 62.4 from 61.7 predicted and a flash reading of 61.7.
Business activity growth has slowed marginally since reaching a 24-year high in May.
Since the poll began in 1996, work backlogs have increased at the quickest rate.
Both input costs and inflation-adjusted prices reached new highs.
“As fewer pandemic restrictions unlocked pent-up demand for corporate and consumer services, the service sector recovery remained in full swing in June.”
“Sales growth slowed marginally from May’s previous high, but many service providers struggled to keep up with new orders due to capacity restrictions and staff shortages.”
The optimistic UK statistics had little impact on the GBP/USD, which stayed in a tight range around 1.3850 after a rapid jump to three-day highs of 1.3857 in the last hour. So far, the spot has gained 0.21 percent./n
