GBP Surges to Six-Month Highs Amid Upbeat Business Activity Data

The British Pound (GBP) surged to six-month highs against the US Dollar (USD) on Friday, as upbeat business activity figures surpassed expectations.

According to S&P Global's preliminary data, July's UK Services Purchasing Managers Index (PMI) rose to 52.8 from June's 52.1 reading, outperforming market forecasts of a decline to 51.8.

The Manufacturing PMI slowed down to 51.5, matching market expectations and deviating from the previous month's 51.9 reading.