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GBP Edges Higher vs. JPY as UK Services PMI Improves

November 4, 2015 at 10:38 by Vladimir Vyun

The Great Britain pound gained against the Japanese yen but remained flat against the US dollar during the current trading session. The currency got support from the report that showed an improvement of the services sector.

The Markit/CIPS UK Services PMI advanced from 53.3 in September to 54.9 in October, beating the median forecast of 54.6. It was the first increase of the index since June. Not all indicators were good today as the BRC Shop Price Index slid 1.8 percent in October after falling 1.9 percent in September. The sterling paid more attention to the positive part of today’s data, showing decent performance during the European trading session.

GBP/USD traded at 1.5427 as of 10:37 GMT today after opening at 1.5420. At the same time, GBP/JPY rallied from 186.65 to 187.08, trading near the highest level since September 21.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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