LONDON, Sept 5 Sterling jumped to a 7-week high
against the dollar on Monday, while gilt futures ticked lower
after a sentiment survey showed Britain's services industry
bounced back strongly in August from a slump triggered by June's
vote to leave the European Union.
The Markit/CIPS Purchasing Managers' Index (PMI) for the
services sector jumped to 52.9 in August from July's seven-year
low of 47.4, the biggest one-month gain in the survey's 20-year
history and one which beat all forecasts in a Reuters poll.
The survey echoed the upbeat tone of data released last week
on the manufacturing and construction sectors in August.
Sterling rose to $1.3375, its highest since
mid-July and up 0.6 percent on the day. It was trading at
$1.3330 immediately before the data.
The euro fell 0.4 percent to 83.56, its lowest since early
August, and down from 83.89 before the survey was released.
Gilt futures fell by more than 10 ticks, while
Britain's blue chip stock index, which tends to benefit
from a weaker pound, extended losses after the survey was
(Reporting by Anirban Nag; editing by Patrick Graham)