Sterling improves on UK services data, but outlook remains poor
28 July, 2011
We have seen a slight improvement in exchange rates this morning, as UK services growth showed a slight increase beyond analysts’ expectations.
Along with weaker Euro retail sales data, this has given sterling a small boost against the Euro and most other currencies this morning.
However, alongside other data in the last week showing poor performances in manufacturing and construction, it looks as though Britain’s recovery failed to gain momentum in the second quarter.
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