The Markit Services PMI for the UK fell almost 10 points in January, standing at 39.5 compared to December 49.4. Despite the decline, the indicator improves the 38.8 points expected by the market.
January is the worst result obtained by the indicator in eight months, specifically since May 2020.
GBP / USD reaction
GBP / USD has moved more than 10 pips higher after the release, rising to the 1.3662 zone from 1.3649. At time of writing, the pair is trading above 1.3653, shedding 0.05% on the day.
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