Markit/CIPS UK Services PMI business activity rises at the fastest pace since May 1997. This is a strong figure, which builds upon recent data points from the UK. Following the release Sterling rallied in the FX market, with cable trading back above the 1.60 handle. Key points: -The backlog of work increased pushing employment payrolls higher -“Manufacturing, services and construction all continued to see very strong rates of expansion, pointing to an on-going broad-b…
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