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British Pound Advances on better-than-expected UK Construction PMI Report

February 4, 2014

David Maycotte

Talking Points: - UK Construction Purchasing Manager Index 64.6 vs. Estimated 61.5 in January - British Pound rises against U.S. Dollar following PMI Data Release - Spotlight Turns to This Week's Bank of England Rate Decision Get Real-Time Feedback on Your Trades with DailyFx on Demand ! UK Construction PMI gauge rose to 64.6 in January, beating expectations calling for a print of 61.5. The outcome is the highest since 2008 marking strong construction activity in the UK , and is a stark improvement compared to the disappointing UK Manufacturing PMI report yesterday. The British Pound rose against the U.S. Dollar as the data crossed the wires and traders consider whether the Bank of England will take more time withdrawing monetary stimulus. Traders turn to the Bank of England policy announcement due later this week for further directional cues on monetary policy GBP/ USD 1 -Minute Chart. February 4, 2014

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Source: DailyFx

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