The pound euro (GBP/EUR) exchange rate is rising after 3 days of losses.
The euro is under pressure after business activity in the region fell back into contraction.
The Eurozone composite PMI fell to 49.5 in May from 50.4, below expectations of 50.3. The service sector PMI fell to 48.9 from 50.1, which had been the sector driving growth.
The Trump trade tariffs appear to be hurting sentiment.
The pound is rising despite mixed PMI data. The services PMI recovered into growth in May, rising to 50.2 up from 49 in April.
However, manufacturing PMI contracted further to 45.1.
Tomorrow UK retail sales data will be released.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
