British Pound Sterling, on Friday, March 3, dipped to a seven-week low against the dollar, after weaker than expected data on Britain’s dominant services sector pointed to growth slowing to a five-month low.
The pound fell 0.3 percent against the dollar to $1.2230 after the Markit/CIPS index of sentiment among purchasing managers (PMI) showed a further dip to 53.3 after its first fall in four months in January.
Sterling also fell to its lowest in nearly 4 weeks against the euro, at 86.09 pence per euro.
British government bond prices rose modestly after the survey was published with June futures up about seven ticks, Reuters reports.
