UK Service Sector Strength Drives EUR/GBP Forecast Down 10%
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币界网报道：The UK service sector showed unexpected strength in October, with the S&P Global/CIPS UK Services PMI rising to 49.5 from 49.3 in September, beating forecasts of a decline to 49.0. While still below the 50.0 threshold indicating contraction, the resilience has bolstered the pound against the euro, with EUR/GBP falling to 0.8700. Analysts note the data reduces pressure for further Bank of England rate cuts, supporting sterling. However, persistent cost pressures and weak demand continue to cloud the sector's outlook, keeping the PMI in contraction territory for the third consecutive month.
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