The purchasing managers’ index for Britain’s construction sector rose to 50.8 points, in growth territory. It was expected to rise very marginally from 49.4 to 49.7 points, just under the critical line of 50 that separates contraction and growth. This is the highest figure since October 2012.
GBP/USD traded just under 1.53 before the release, lower than the highs it reached after the US dollar sell off. It is now about 20 pips higher to 1.5315.
Yesterday, Markit reported the manufacturing sector’s PMI, and it came out above expectations. This helped the pound.
One more PMI is left: for the services sector, the UK’s largest.
Important support appears at 1.52. For more lines, events and analysis, see the British pound forecast.
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