The Great Britain pound was little changed against the US dollar and gained on the Japanese yen even though today’s report showed that growth in the UK construction sector slowed. Yesterday, the currency performed worse even though economic data was far better.
The seasonally adjusted Markit/CIPS UK Construction Purchasing Managersâ Index fell to 58.8 in October from 59.9 in September. Released yesterday, the seasonally adjusted Markit/CIPS Manufacturing Purchasing Managersâ Index rose to the 16-month high of 55.5 in October from 51.8 in September instead of falling as had been predicted by analysts. The sterling performed in opposition to the economic reports, falling after the release of positive data and rising after the release of the negative one.
GBP/USD was up a little from 1.5413 to 1.5434 as of 19:59 GMT today after falling to 1.5363 earlier. GBP/JPY rallied from 186.12 to 186.84.
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