GBP/USD drops back below 1.2300 as UK Services PMI plunges to 49.5 in September

The UK Services sector activity entered into contraction in September, the latest survey report from Markit Economics showed this Thursday.

The headline seasonally adjusted IHS Markit/CIPS UK Services PMI Index fell to 49.5 in September vs. 50.6 booked in the previous month while missing expectations of 50.3.