February 5, 2020 / 9:22 AM / 2 months ago

Sterling maintains some strength before UK services PMI

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv

By Olga Cotaga

LONDON, Feb 5 (Reuters) - The pound was trading higher on Wednesday before key economic data were released, but it remained around the levels it fell to this week after Prime Minister Boris Johnson took a hard line on upcoming trade negotiations with the European Union.

Johnson said Britain would not adhere to EU rules and regulations, sending sterling to a six-week low on Tuesday. It rebounded after a better-than-expected construction survey.

Traders will be watching the final reading of the UK services purchasing managers’ index, which economists polled by Reuters expected would remain at 52.9 in January.

The pound was up 0.1% at $1.3043 and 0.2% higher versus the euro at 84.61 pence.

Reporting by Olga Cotaga, editing by Larry King

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