Current UK Services PMI at 53.2 vs Forecast 51.1; GBPUSD Rises

The United Kingdom has released its Purchasing Managers’ Index (PMI) data for services and manufacturing, which has an impact on GBPUSD trading on Monday (March 24, 2025).

This month, the manufacturing PMI for the UK was reported at 44.6, significantly below the forecast of 47 and lower than last month’s figure of 46.9. Conversely, the services PMI came in at 53.2, which is well above the forecast of 51.1 and the February figure of 51.

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Following this release, GBPUSD rose to 1.29597, marking the highest level of the day.

GBPUSD is experiencing positive sentiment following the Bank of England’s decision last week to maintain interest rates at 4.5% while adopting a relatively more hawkish stance. This is due to increasing inflationary pressures in the UK, indicating that the BoE is unlikely to reduce interest rates anytime soon.