GBP/USD dumped on risk aversion – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet noted that the British Pound resumed its decline against the greenback.

Key Quotes:

“Falling down to 1.4121 as investors dumped the weakened high yielder in a risk aversion environment.

The UK released its services PMI for March, up to 53.7, beating expectations of 53.5 and above February’s reading of 52.7.

With almost no changes in the manufacturing and construction PMIs, the overall composite index rose to 53.6 in March from the previous 52.7. The news, however, were not enough to support the Pound, as market traded mostly on sentiment.”
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Source:: FX Street