Great Britain Pound Bounces as UK Construction PMI Rises

The Great Britain pound gained against the US dollar and erased previous losses versus the Japanese yen today. The currency gained ground after a report showed that growth of the UK construction sector accelerated last month unexpectedly.
The Markit/CIPS UK Construction Purchasing Managers’ Index rose from 57.6 in December to 59.1 in January. It was a surprise considering that analysts promised a drop to 56.9. Unlike yesterday, the sterling is able to keep its gains today, at least for now.
GBP/USD climbed from 1.5037 to 1.5084 as of 13:11 GMT today after falling to 1.4986 earlier. GBP/JPY dropped from 176.81 to 175.47 before bouncing to 176.98.

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