The Great Britain pound advanced today with help of an unexpectedly positive construction report. The sterling retreated to the opening level against the US dollar as of now but only after reaching the highest level since October 2008 against the US currency.
The Markit/CIPS UK Construction Purchasing Managersâ Index climbed from 60.0 in May to 62.6 in June instead of falling to 59.7 as was predicted by analysts. Employment growth in the construction sector reached the highest level in the history of the survey. The sterling rallied after the report but was not able to hold onto gains versus the greenback due to better-than-expected employment data from the United States.
GBP/USD traded at 1.7145 as of 12:39 GMT today after rising from 1.7149 to the multi-year high of 1.7175. GBP/JPY was up from 174.09 to 174.38.
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