EU Feb Producer Price Index (MoM) declines to 0.2%; 1.3% (YoY)

The GBP/USD started its descending curve today from 1.5130 area and dropped by 100 pips to as low as 1.5034. The pair bounced to 1.5080 in reaction to the release of UK Markit Services PMI in March, which has risen from 51.8 to 52.4. The greenback is stronger against its counterparts as Japan, the Eurozone and the UK are attracting investors’ eyes toward its central banks and beat consensus of 51.5.