Euro Gains Against Pound Ahead of Crucial PMI Releases

The Euro has edged up against the British Pound for the second consecutive day, trading at 0.8580 as of writing.

This moderate movement comes ahead of key Purchasing Managers Index (PMI) releases from both the Eurozone and UK economies.

Analysts expect a steady business activity reading in the Eurozone's services sector, with a preliminary HCOB PMI figure expected to rise to 51.7 from August's 51.6.

In contrast, the S&P Global Manufacturing PMI for the UK is forecast to slow down to 51.4 from last month's 51.7.