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Sep 04 - 06:55 AM

GBP/USD - Buoyed By Upward Revision To UK Services PMI

By Rob Howard  —  Sep 04 - 04:55 AM
  • Cable rises to 1.3126 after UK August services PMI upwardly revised to 53.7

  • Services sector is dominant segment of UK economy. 1.3126 = intra-day high

  • 1.3120 was early London high (pre-UK data). 1.3088 was Tuesday's low

  • UK services PMI revision underpins consensus expectation of BoE hold Sept 19

  • 1.3146 (Tuesday's NY session high) and 1.3155 are GBP/USD resistance levels

  • US JOLTS data due 1400 GMT; 8.1M forecast. NFP data due Friday; 165k f/c

Source:
Refinitiv IFR Research/Market Commentary

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