The exchange rate has climbed slightly to €1.138 (£1) after the release of UK services data for June. PMI figures were expected to slip from 53.8 to 53.5 but instead they dropped to 53.4. But the pound has managed to hold its ground despite the disappointing services data.
The exchange rate still has a further climb to reach weekly highs of €1.142 (£1) seen on Monday.
Following Monday’s dip in the UK manufacturing PMI for June, the monthly construction PMI has also shown a drop, easing from 56 to 54.8.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.