- The UK Final Services PMI was revised down to 49.4 in December.
- GBP / USD remains higher above 1.3600 following UK data.
- Broad USD weakness is underpinned, focus shifts to US data and election outcome.
Activity in the UK services sector contracted more than expected in December, the final report from IHS Markit confirmed on Monday.
He UK Services IHS Markit / CIPS Index (PMI) seasonally adjusted was revised downwards to 49.4 in December compared to the 49.9 expected in the preliminary reading. However, the indicator recovers from the 47.6 points obtained in November. Today’s result marks two consecutive months of contraction after four previous months of expansion.
He GBP/USD It reacted slightly lower after the publication, trading at the time of writing above 1.3634, still gaining 0.06% on the day. The pound, if anything, is benefiting from the broad weakness of the dollar after it was learned that the Democrats are winning the Senate elections in Georgia. Previously, at the European opening, the pair had managed to rise to 1.3661, its highest level in two days.
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