Data from the
The pound rose to 0.7967 against the euro, from an early near 2-week low of 0.7985. If the pound extends its uptrend, it is likely to find resistance around the 0.80 area.
Data from Markit Economics showed that Eurozone's composite purchasing managers' index, or PMI, was revised downwards in August. The Markit PMI composite output index was revised to 52.5 in August, less than the flash estimate of 52.8. In July, the index was at 53.8.
Moving away from an early near 6-month low of 1.6443 against the US dollar, the pound edged up to 1.6491. At yesterday's close, the pound was trading at 1.6467 against the greenback. The pound is likely to find resistance around the 1.67 region.
Against the yen, the pound edged up to 173.29, from an early 2-day low of 172.69 . The pair was quoted at 173.05 at yesterday's close. Continuation of bullish trend may lead the pound to a resistance around the 174.62 mark.
Data from Markit Economics showed that the services sector in
The pound edged up to 1.5159 against the Swiss franc, from an early near 2-week low of 1.5123. The pair closed Tuesday's trading at 1.5133. On the upside, 1.53 is seen as next resistance level for the pound.
Looking ahead, US factory orders data for July and Federal Reserve's Beige Book Report are scheduled to be released in the
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