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GBP/USD gains as 1.3400 mark caps losses
05-Jun-26   14:35 Hrs IST
British Pound edged up today as steady risk appetite in world markets supported the currency. Pound took a hit earlier in the week amid tepid economic cues. UK service-sector activity moved into contraction in May for the first time in more than a year. PMI Services (final) fell sharply from 52.7 to 49.3, while PMI Composite dropped from 52.6 to 49.7, marking the first contraction in overall private-sector activity in 13 months and the weakest reading since April 2025. However, lows around 1.3400 mark capped losses for GBP/USD pair. It is currently trading at 1.3456, up 0.23% on the day. On NSE, GBP/INR futures are quoting at 128.12, down 0.67% on the day after holding around 128.50 mark in morning trades. Overall movement is rangebound.

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