# Pound sterling falls below $1.25 after poor UK services figures | The Independent | The Independent

> Sterling fell below $1.25 after the Markit/CIPS services PMI slipped to 54.5 from 56.2, below the 55.8 expected. The pound had already dropped on Thursday after the Bank of England signaled rates would stay on hold.

- Date: 2017-02-03 · published 2017-02-03T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/72735-pound-sterling-falls-below-1-25-after-poor-uk-services-figures-the-independent
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weak UK services data pressures sterling, a currency move with minimal direct bearing on feed grain or protein prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-10-30 | [Pound Sterling bounces back after UK budget announcement, US data](https://feedsoft.ai/events/28098-pound-sterling-bounces-back-after-uk-budget-announcement-us-data.md) | -0.2% | +1.6% |
| DXY | 2023-01-25 | [Sterling slips after data shows UK manufacturers cut prices \| Financial Post](https://feedsoft.ai/events/38019-sterling-slips-after-data-shows-uk-manufacturers-cut-prices-financial-post.md) | -0.1% | +1.5% |
| DXY | 2019-09-30 | [NewsBreak: Euro Hits New 2019 Low After German CPI Falls Below 1% By Investing.com](https://feedsoft.ai/events/57279-newsbreak-euro-hits-new-2019-low-after-german-cpi-falls-below-1-by-investing-com.md) | -0.2% | -1.4% |
| DXY | 2017-11-02 | [Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates](https://feedsoft.ai/events/68237-pound-sterling-gbp-plunges-against-the-dollar-usd-and-euro-eur-as-bank-hikes.md) | -0.1% | -1.5% |
| DXY | 2022-12-15 | [Sterling falls after BoE's ninth consecutive rate hike](https://feedsoft.ai/events/38476-sterling-falls-after-boe-s-ninth-consecutive-rate-hike.md) | +0.4% | -2.2% |

## Sources

- independent.co.uk: https://www.independent.co.uk/news/business/news/pound-sterling-value-latest-services-growth-falls-services-a7561206.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.