12/4, 11:01 AM (Source: TeleTrader)
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Pound hits seven-month high against dollar after UK data

The British pound traded on levels last seen in May compared to the dollar after data on the United Kingdom's services sector showed a contraction that was lower compared to the flash estimate. The November figure came in at 49.3 and not the initially expected 48.6.

The pound gained 0.42% against the dollar and went for 1.30504 at 10:58 am CET. Meanwhile, the euro was down compared to the British currency, losing 0.48% at 10:59 am CET to trade at 0.84842. The euro was down on March lows against the pound.

Breaking the News / VP