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Sterling dives to 3-month low
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The United Kingdom released several reports today with the services PMI data among them.
The latest report of the Markit research group showed growth of the UK service sector in August, but the weakest rate of expansion in over two years. That pushed the British pound to a new 3-month low against the US dollar.
Following the data release, the GBP/USD pair hit the level of 1.5241, which is its lowest level since June 8, from 1.5290 where it was previously trading.
Earlier this week, data on a slowdown in the UK manufacturing sector was unveiled. The construction sector also posted discouraging figures that cut the growth forecast for the third quarter, shattering analysts' hopes for the near-term interest rate.
Thus, the UK services PMI decreased to 55.6 in August 2015 from 57.4 reported in July. The indicator reached its lowest level since May 2013 missing economists' forecast of 57.6 points.
However, experts at Markit underlined that the British economy still could advance by 0.5% in the third quarter with the services sector acting as the major driving force.

Calendar and reviews
Trader’s calendar on March 28: Any winners in Trump’s tariff game?
Trader’s calendar on March 21: USD to stagnate while markets hesitate?
Trader’s calendar on March 20: USD to remain among gainers despite recent decline?
Trader’s calendar on March 19: Trump’s actions cause sell-off in USD
Trader’s calendar on March 18: Is USD strong enough to stay afloat?
Editor's choice
Being the capital and the largest city of the Republic of Moldova Chisinau became the center of attraction for Moldavians. Just like Rome, the city has been growing on seven hills along the river Bîc during six hundred years. As Bîc sounds pretty close to bull in Moldavian we could suppose that the locals prefer trading in an uptrend. Nowadays, locals of Chisinau want to take full advantage of the international currency market, so they are keen to take part in annual finance conferences arranged by InstaForex.
Elena Avramova, Partner Relations Manager at International Association of Forex Traders: "Selection criteria for partners and prospects of cooperation with InstaForex" (ShowFx World Exhibition in Moscow)
Trader’s calendar on March 28: Any winners in Trump’s tariff game?
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