British Pound Rose by 0.33% Against US Dollar

The British pound grew slightly against the US dollar. The GBP/USD pair increased by 0.33% and is trading at 1.3281 level. The pound was supported by strong data on the UK Services PMI.

The increase in activity in the services sector in the UK unexpectedly improved at the end of the third quarter. Data from the IHS Markit and the Chartered Institute of Purchasing & Supply showed that the purchasing managers' index in the services sector, or PMI, rose to 53.6 in September from the 11-month low of 53.2, which was observed in August. Economists had expected the index to remain stable at 53.2. Any reading above 50 indicates an expansion in the sector.