Pound slides to three-low after lower than forecast UK services sector data

The GBPUSD plunged on Wednesday to a fresh three-week low against the green currency after a lower than forecast U.K. services sector report.

U.K. services sector retreated more than forecasts of 57.5 to register 56.7 in February, where January’s reading was 57.2.  

Data of the U.K.’s biggest sector overshadowed the brilliant manufacturing and construction data released this week.

The BOE will probably hold both its interest rates and amount of asset purchases tomorrow.

On the other hand, data from the U.S. signaled private sector employers added 212,000 jobs in February, while the services sector widened its expansion pace to 57.1 in February.   

American employers added 240,000 jobs last month, according to analysts’ forecasts for the non-farm payrolls figures due on Friday.

As long as the economic data are getting the better, the Fed may reconsider the timing of raising interest rates by making it earlier.