Economic news

Review: Pound reaches day's highs on strong PMI data

The pound remained near the day’s peak on Wednesday after fresh figures from the IHS Markit showed improvement in the economy last month.

Sterling jumped 0.4 percent to $1.3283, recovering from a three-week trough of $1.3222 in the previous session. Against the single currency, the pound traded at 88.635 pence per euro.

The IHS Markit/CIPS Purchasing Managers' Index (PMI) for the services sector edged up to 53.6 in September from an 11-month trough of 53.2 in August.

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