GBP/USD Little Lower On UK Data

A little weaker than expected data has pressured the GBP/USD during European trading. GBP/USD is trading at 1.5342, down 0.0021. UK February Services PMI was 56.7 versus estimates of 57.5. January data was 57.2. The composite PMI came in at 57.0. Market talk has Q1 UK GDP estimated at 0.6 percent. Market talk about a ruling in the EU courts Wednesday that said the ECB couldn't legally determine the clearing house locations for the Eurozone area has firmed the British pound against the euro.