Small Strength for Sterling this morning

The Pound has had a better morning this morning, up against the majority of majors (apart from the Swiss Franc) following a slight improvement in the U.K PMI (Purchasing Managers Index) for the services sector. We had a poor result from the manufacturing sector last week so this is much better news.

The PMI is an indication of how the particular sector is performing and for once we have seen a bit of good news as oposed to bad for the U.K and indeed the Pound – Lets hope this is the start of a decent month!