By Rob Bastin

After a terrible start to the month Sterling made a small recovery against most major currencies today after PMI services data came out at 58.4, above the 55 expectations. GBP/USD exchange rates were up by over 1% by the end of the day and GBP/CAD had also gained 0.5%. The markets will be eagily awaiting the Bank of England’s interest rate decision tomorrow lunch to see if QE is to be extended or not.