Neutral
GBP/USD edges higher to $1.3496 as UK services PMI rises to 52.5.
The GBP/USD exchange rate inched up to $1.3496 following the UK's final services PMI for August, which increased to 52.5 from 52.1 in July. However, this figure was slightly below the preliminary estimate of 52.8, limiting the pound's gains. Additionally, concerns over rising UK government borrowing costs have kept investors cautious.
Key points
- UK services PMI rises to 52.5, slightly below initial estimate.
- GBP/USD trades at $1.3496, marginally higher on the day.
- Investors wary of increasing UK government borrowing costs.
Sources
AI-generated from public news sources. Not financial advice.
