By Khushi Singh and Shubham Batra
(Reuters) -Britain’s blue-chip stock index started the week on a tepid note as the pound slipped to a near eight-week low against the greenback following strong U.S. economic data that pushed investors to trim their rate cut bets for 2024.
The internationally focused FTSE 100 index closed flat after paring gains during the session, while the domestically focused FTSE 250 fell 0.8%.
The pound fell to its lowest against the dollar since Dec. 13 after a survey showed the U.S. services sector picked up in January and Federal Reserve Chair Jerome Powell said in an interview that the Fed would “give it some time” before cutting interest rates.
British services businesses started 2024 on a robust footing, with a solid inflow of new orders and the fastest hiring in six months, a survey showed.
Meanwhile, another survey showed Britain’s unemployment rate was much lower late last year than previously thought,…
