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UK’s Services Sector Stagnation Pressurized the Sterling

After analysts’ reports showed a deceleration in the growth of UK’s services sector, the nation’s currency, the sterling, lost value versus its counter peer, the euro, for the sixth consecutive day.
At 11:15 a.m. London time, the sterling performed its longest losing run since 2014, having reached 72.81 pence per euro, a declination of 0.2%.

Alternatively, the sterling was the best performer over the past month versus a basket of counterparts, as per the Correlation-Weighted Indexes results.
Moreover, the benchmark 10-year government bonds yield after rising on Tuesday by 13 basis points, remained almost unchanged today at 1.98%.


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