The Great Britain pound traded little changed against the US dollar and the Japanese yen as yet another Purchasing Managers’ Index came out below expectations.
The Markit/CIPS UK Construction PMI fell from 54.2 to 52.0 in April, showing the slowest expansion of business activity since June 2013. The actual reading was far weaker than 54.2 predicted by analysts. Today’s data followed yesterday’s report that showed an unexpected drop of the manufacturing PMI below the critical 50.0 no-change level.
GBP/USD traded near the opening level of 1.4533 as of 12:30 GMT today after falling to 1.4461 intraday. GBP/JPY was at about 154.39 following the opening at 154.88 and the rise to 156.13.
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