Pound/dollar under pressure in intraday trading, dragged down by disappointing UK services PMI data
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Golden Ten Data reported on May 21 that the British pound fell, with GBP/USD once retreating to around 1.3431, due to the UK services PMI coming in much lower than expected. Data shows that the preliminary UK services PMI for May registered only 47.9, a sharp decline from April's 52.7. The weaker-than-expected PMI data has further strengthened the market's expectation that the Bank of England will keep interest rates unchanged in June.
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