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GBP/USD rises as US shutdown prolongs, Fed data gap grows
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FXStreet Forex & Commodities News
Purchasing Managers Index (PMI), data from S&P Global and ISM in the US, are the main drivers of price action.
GBP/USD climbs as services PMIs flash slowdown signs, while Fed–BoE divergence underpins Sterling strengthBusiness activity in the US deteriorated, according to the ISM Services PMI.
In the meantime, S&P Global Services PMI exceeded forecasts of 53.9, rose to 54.2 in September.
The S&P Global Services PMI dipped to 50.8 below estimates and August’s print of 51.9.
Further GBP/USD upside expected on central bank divergenceDivergence between the Fed and the Bank of England to dictate GBP/USD direction.