A slightly worse than expected outcome in the British construction sector: the PMI fell to 54.2 points.
GBP/USD continues its journey south, although the majority of the falls were seen before the publication.
Markit’s construction purchasing managers’ index survey for the UK was expected to result in 55.5 points in February, slightly above 55 seen in January. These figures reflect solid growth.
GBP/USD was falling towards the release, trading around 1.3935. Markets often front-fun economic releases in Britain.
Yesterday, the British manufacturing PMI came out worse than expected, showing very marginal growth. Weak manufacturing sectors are seen also in other countries. Tomorrow we’ll get the most important PMI: from the services sector. Stay tuned for a preview on this release.
The danger of a Brexit still looms over the UK: this is the main point of pressure against the pound.
More: GBP/USD will have to grapple with the ‘Brexit’ risk
