UK Final Services PMI misses estimates with 34.5 in March, GBP/USD refreshes lows

• UK Final Services PMI revised downwards to 34.5 in March.
• GBP/USD refreshes lows and nears 1.2300.
• King dollar rules amid looming coronavirus crisis-led risk off.

The UK services sector activity contracted more-than-expected in the month of March, the final report from IHS Markit showed this Friday. 

The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 34.5 in March versus 34.8 expected and a 35.7 – March’s first reading.

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