Sterling Rises as UK PMI Shows Unexpected Economic Strength

The British Pound (GBP) experienced a significant boost against major currencies following the release of stronger-than-expected economic data, highlighting a potential economic recovery in the UK. This positive surge is primarily attributed to the Purchasing Managers’ Index (PMI) which recently indicated sustained economic expansion across both manufacturing and services sectors. These indicators suggest the UK economy might be more resilient than previously anticipated, prompting increased confidence among investors.