US services activity picks up unexpectedly
The pace of growth in the US services sector rose unexpectedly in August, data showed on Tuesday. The numbers released by the Institute for Supply Management showed services activity snapped a 3-month slower growth streak.
ISM non-manufacturing PMI rose to 53.3 in August, versus consensus for a slowdown to 51.0 from 52.7 the previous month. ISM non-manufacturing business index fell slightly to 55.6 from 56.1, but beat consensus for a fall to 54.5.
The US dollar pared its gains after the better than expected numbers, as EUR/USD rose to 1.4090 from 1.4063.
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