The Great Britain pound weakened today after the report showed that Britain’s services PMI dropped lower than was forecast by the analysts as a result of the poor weather and snow.
The Markit Services PMI dropped from 53.0 in November to 49.7 in December. The predicted value was 52.9. The report attributed the decline to the bad weather and the weak demand from the public sector and said that “underlying trends remained subdued”.
GBP/USD declined from 1.5513 to 1.5486 as of 12:20 GMT today, following the advance to 1.5562. GBP/JPY traded near 128.77 after it slid from the opening level of 129.12 to 128.39.
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