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 Managersâ 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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