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Pound Gains as Construction Accelerates

October 2, 2015 at 10:39 by Vladimir Vyun

UK coins on banknotesThe Great Britain pound gained today after a report showed that UK construction accelerated last month, adding to positive data released earlier this week.

The Markit/CIPS UK Construction Purchasing Managers’ Index climbed from 57.3 in August to 59.9 in September, far above the median forecast of 57.5. Released yesterday, the seasonally adjusted Markit/CIPS Manufacturing Purchasing Managers’ Index was at 51.5 in September, almost unchanged from August’s reading of 51.6 and above the analysts’ prediction of 51.3. The positive data led to the rally of the sterling, though gains versus the US dollar were limited as traders are nervous ahead of non-farm payrolls.

GBP/USD rose from 1.5129 to 1.5150 as of 10:39 GMT today but retreated from the daily high of 1.5172. GBP/JPY rallied from 181.43 to 182.15.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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