Pound Stronger After Construction PMI

The Great Britain pound firmed today following the release of construction data that showed that the sector continues to grow, albeit not at an impressive pace.
The Markit/CIPS UK Construction Purchasing Managers’ Index remained steady at 54.2 in March, staying safely above the neutral 50.0 level. Yet the report was not particularly optimistic as the rate of growth was slowest since June 2013. Nevertheless, the sterling was firm, rising even above the US dollar which is trying to rebound after the last week’s losses.
GBP/USD edged up from 1.4221 to 1.4266 as of 12:07 GMT today. EUR/GBP ticked down from 0.8014 to 0.7974.

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