Pound Flat as Britain’s Economic Data Mixed

The Great Britain pound was basically flat against its major peers today as reports painted a mixed picture of Britain’s economy, giving the currency no clear direction. The sterling fell for four consecutive sessions before today.

The Markit/CIPS UK Construction PMI ticked up from 52.2 to 52.5 in February while analysts had expected the index to stay unchanged. The Markit/CIPS UK Manufacturing PMI, on the other hand, slipped from 55.7 to 54.6 unexpectedly. Now, traders wait for tomorrow’s services report. Experts predicted it to edge down from 54.5 to 54.2.

GBP/USD traded at about 1.2278 as of 11:02 GMT today after opening at 1.2292. EUR/GBP opened at 0.8578 and slipped a bit to 0.8569 later.

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