The British Pound erases gains after it rallies beyond 1.4249 for the first time in 3 years, trading at 1.416 .
A bearish end to the trading week, GBP/USD is down to 1.416 after having started the week at 1.4181, overall a 0.15% move or 21 pips today. (Start trading The British Pound at FXTM today).
This downslide might be related to financial indicators data published earlier as United Kingdom Manufacturing PMI fall short of the 66.1 projections, with 65.6 and continued its downward trajectory from previous figure of 66.1.
In contrast, positive data for The British Pound reported earlier when United Kingdom Construction PMI comes out at 64.2, above the estimate of 62.3. This is also a step forward from the previous data of 61.6. United Kingdom Services PMI beats expectations of 61.8 with new data release of 62.9. This is also a step forward from the previous data of 61.8.
Positive performance however can be seen looking at other symbols as after 4 months, EUR/NZD hits a fresh high at 1.701. EUR/AUD climbs to a new 4 months high at 1.5851. Dollar/Yen hits 110.33, highest price in 2 months.