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02/08/2017 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • August 2, 2017
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The exchange rates are listed at the bottom of this article, please note the rates are for indication only. For live quotes contact us vis email or phone.

Growth in Britain’s construction industry tumbled to an 11-month low in July, as a lacklustre outlook for the economy and heightened political uncertainty deterred new orders, a survey showed today.

The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) fell to 51.9 from 54.8 in June, below all forecasts in a poll of economists that had pointed to a reading of 54.5.

The survey is another mixed signal for Bank of England policymakers meeting this week to set interest rates. A sister survey on Tuesday had shown British manufacturing growth improved last month thanks to an upturn in exports.

However, today’s PMI for construction, which accounts for around 6 percent of British economic output, showed a sector struggling to maintain momentum.

More important for BoE officials will be Thursday’s PMI for the services industry, which accounts for about 80 percent of British economic output. That will be released at 09:30 GMT.

GBP/EUR 1.1158

GBP/USD 1.3231

GBP/AED 4.8538

GBP/AUD 1.6602 

GBP/CAD 1.6612 

GBP/CHF 1.2801

GBP/NZD 1.7801

EUR/USD 1.1844 

GBP/ZAR 17.491

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