Pound Extends Gains on Expanding Construction Sector

The Great Britain pound continued its rally today, rising for a third day against the US dollar, as the report showed that UK construction sector returned to growth in January.
The Markit/CIPS Construction Purchasing Managers’ Index (seasonally adjusted) showed a solid expansion of activity in the UK construction sector, rising from 49.1 in December to 53.7 in January. Market participants expected a smaller growth to 49.8. One of the reasons for the improvement was better weather conditions at the start of the year that have helped to boost the construction work.
GBP/USD rallied from 1.6140 to 1.6213 as of 11:03 GMT today, while GBP/JPY advanced from 131.29 to 132.06.

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