United Kingdom Markit Services PMI came in at 57.4 below forecasts (58) in July

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Aug 5, 2015

EUR/GBP drops to 2-week lows near 0.6970

The shared currency continues to get hammered by the pound in the European session, now sending EUR/GBP to fresh two-week lows below 0.70 – key barrier. The euro remains undermined as markets digest the latest mixed services PMIs released from the Euro zone while await the crucial UK services PMI report due out shortly.

UK service sector cools in July

The seasonally adjusted Markit/CIPS UK Services PMI in July printed at 57.4 compared to June’s 58.5. The number stayed above 50.00 indicating expansion for the thirty-first successive month.