UK Preliminary Services PMI jumps to 53.2 in March vs. 51.2 expected

• UK Services PMI rose to 53.2 in March, beating estimates.
• Manufacturing PMI in the UK unexpectedly declined to 44.6 in March.
• GBP/USD clings to gains near 1.2650 after UK business PMIs.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) unexpectedly dropped to 44.6 in March from 46.9 in February. The data missed the consensus forecast of 47.3 in the reported period.