The Euro and Pound rise following recovery in services PMI.

The Euro and Pound have risen respectively to $ 1.5120 and $ 1.3325 following the announcement of services PMI figures, showing substantial improvement.

The monthly index of purchasing managers published by the Markit institute showed that the services sector in the euro area has risen to 43.8 in April, its strongest monthly increase since late 2001.

The contraction in the services sector in Germany is less than expected in April. The index rose to 43.8 against 42.3 in March.

In France, the services sector rebounded back to 46.5 in April, the highest for six months.

In the UK, the services contracted in April at its slowest pace since August. The index rose to 48.7 in April against 45.5 in March.

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