The pound euro (GBP/EUR) exchange rate is rising for a third straight day.
The pound is gaining after UK PMI data beat forecasts. The Composite PMI unexpectedly rose to 52.7 from a six-month low of 52.3 in June.
The manufacturing PMI rose to a two-year high, and services PMI was also above forecasts. Meanwhile, businesses raised prices at the slowest rate since February 2021.
The euro is falling after PMI data was weaker than expected. The composite PMI came in at 50.1, just above the 50 level that separates expansion from contraction.
The data points to sluggish momentum in the economy at the start of Q3.
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