Investing.com - Sterling spiked Wednesday as the U.K. services sector expanded more than expected in March.
The pound was up 0.26% at $1.2473 at 05:00 ET after an intraday high of $1.2496 and a low of $1.2420.
Consultant Markit's U.K. services PMI rose to 55.0 from 53.3 in February.
That was the strongest rise in the sector this year. The PMI was forecast to rise slightly to 53.5.
However, Markit said the upturn in March fails to change the view the U.K. economy slowed in the first quarter.
A reading of above 50 indicates expansion, one below contraction.
The euro was up 0.03% at $1.0674 as the euro-zone services PMI came in at 56.0 vs. estimate of 56.5.
The German services PMI was in line with estimates at 55.6.
The dollar index was off 0.03% at 100.39.