Sterling gains on robust UK services data The pound hit its strongest level of the session against the dollar after figures showed that the UK services sector grew faster than expected last month, boosting optimism about the health of the UK economy. Sterling rose 0.4 per cent to $1.5372 after a purchasing managers" index from Markit gave a reading of 54.9 in May, its strongest reading in more than a year. The figures followed a raft of recent positive data on the UK economy, with numbers earlier in the week showing the UK construction sector unexpectedly expanded in May while growth in the manufacturing sector also beat estimates. The pound rose 0.4 per cent against the euro to €1.1758. The euro was steady against the dollar, even as figures showed that the eurozone services sector contracted at a slower rate in May but was revised lower from an initial estimate. The single currency fell 0.1 per cent to $1.3073 after a purchasing managers" index from Markit gave a reading of 47.2 for the eurozone services industry in May, down from a flash estimate of 47.5. But currency investors remained focused on Thursday's decision from the European Central Bank over whether to cut rates further to help stimulate the eurozone economy. Last month, the ECB cut its main refinancing rate to 0.5 per cent and said it had not ruled out introducing negative interest rates on deposits. Expectations were for the ECB to take no further action in June. The Japanese yen gained against other major currencies after market participants were underwhelmed by fresh economic reforms laid out by Japan's prime minister, Shinzo Abe. The dollar fell below Y100 to hit a low of Y99.39, but was clawing back some of its losses during London trading. The dollar index was flat at 82.75 ahead of jobs figures in the US due out at 1315 BST. The ADP employment report was expected to show an uptick in private sector employment in the US with expectations that an additional 165,000 jobs were created in May, up from 119,000 in April.