Flash: Services PMIs in focus - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the main economic data releases this morning are the final May Eurozone and UK service PMI surveys which are expected to be unchanged.

He adds, “There appears some modest upside risk to today’s readings given the upward surprises which were evident in the final PMI manufacturing surveys. The easing of recessionary conditions in the euro-zone and gradual pick up in growth in the UK are helping to support both the euro and pound in the near-term when overseas economies are losing some momentum.”