Sterling nears one-month low as investors bet on BoE rate cuts .The British pound hovered around its lowest in a month against the dollar on Friday, and was headed for its biggest weekly decline since January 2025, as investors weighed mixed economic data and added to bets on Bank of England interest rate cuts.
UK PMI composite rises to 53.9, consistent with over 0.3% Q1 GDP growth.UK business activity continued to expand in February, with PMI Manufacturing rising from 51.8 to 52.0, marking an 18-month high. PMI Services edged slightly lower from 54.0 to 53.9.
UK businesses report another strong month, PMI survey shows.British businesses have extended their early 2026 rebound into a second month, but jobs are still being sharply cut among services firms partly as a result of higher taxes imposed on them by the Labour government, a survey showed on Friday.