GBP trims gains after U.K. posting lesser than expected PMIs

In U.K. this week's purchase managers index in all segments (manufacturing, construction and service) have been highly disappointing to miss forecasts.

Manufacturing PMIs dropped vigorously from previous 52.9 to 50.8 against forecasts at 52.3.

Construction PMIs reduced from previous 55.0 to 54.2 against forecasts at 55.5.

A steep in dip in Service PMIs to miss the forecasts have disappointed GBP's gains, reduced from previous 55.6 to 52.7 against forecasts at 55.1.

These  leading economic  indicators divulge economic health and how the businesses adopts quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

Whereas, BoE has recently stood pat at the benchmark UK interest rate at 0.5% in last month's monetary policy. This unchanged rate was no surprise to the forecasts. BoE's QE in Jan total GBP stays flat at 375 bln GBP vs previous 375 bln GBP.

EUR/GBP has tumbled from peaks of 0.7928 to the lows of  0.7691 but that is where held supports and bouncing to current levels of 0.7726, while GBP/JPY trims day highs from 161.014 to 160.577.

GBP/AUD carried over losing routs from last night's close at 1.9293 to the current 1.9238 levels.