UK Construction figures better than expected


UK Construction figures better than expected

Sterling and Britain’s blue chip stock index rose to a day’s high this morning after a survey showed the downturn in the construction sector was easing, boosting expectations that the economy is holding up well after the Brexit vote. The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 49.2 from 45.9 in July, still […]

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Sterling slips against Dollar

Sterling slipped back towards $1.30 on Tuesday on divergent expectations for monetary policy, with investors increasingly betting U.S. interest rates could rise by year-end while British rates may be cut again. With London markets closed on Monday for a national holiday, Tuesday marked the first full day of trading there since U.S. Federal Reserve Chair […]

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Sterling nears 3 week high

Sterling traded close to a three-week high against the dollar today and was on track for its best week in six, with worries over the economic impact of Britain’s vote to leave the European Union easing a little after recent better-than-expected data. The pound was also on track for its best week in six weeks […]

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Sterling up this morning

Sterling inched up on today after registering its strongest week in five against the dollar, as a run of robust economic data suggested Britain’s economy was faring better than expected following its vote to leave the European Union. The pound was boosted last week after inflation and retail sales numbers for July beat forecasts, adding […]

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Sterling hits further lows

Sterling hovered near a one-month low this morning on expectations that poor economic data will lead the Bank of England to ease monetary policy again in the coming months to cushion the economy from a sharp downturn. A tick up in U.S. Treasury yields and more signs of weakness in Britain’s housing market had pushed […]

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Pound slips on the back of weak UK manufacturing data

British industrial output grew at the fastest rate since 1999 in the second quarter of this year, with “very few” respondents reporting an impact from uncertainty around June 23’s vote to leave the European Union. However, official figures showed Britain’s trade deficit surged in June, with the economy sucking in a record amount of imports […]

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Sterling weakens further against the dollar

Sterling traded near its weakest in three weeks against the dollar this morning, hurt by widening rate differentials between the United States and the UK after robust jobs numbers strengthened speculation of a rate hike by the Federal Reserve. In contrast, the Bank of England kick started its quantitative easing programme today, having lowered interest […]

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Sterling could drop further this Thursday

The monthly survey of purchasing managers in the construction sector inched down to the lowest reading since June 2009, well into contraction territory. However, the result was better than all forecasts in a poll of economists. The numbers nevertheless provide another sign that Britain’s economy is at risk of recession after June’s vote to leave […]

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Sterling looses ground after Martin Weale comments

Sterling hit a two-week low on Tuesday after a Bank of England policymaker suggested a batch of weak UK data had convinced him monetary policy should be eased immediately, having last week said he needed more evidence of economic weakness first. While stopping short of openly backing a cut in interest rates or quantitative easing […]

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Sterling slightly up this morning

Sterling inched up today, recovering some of the ground it lost late last week from surveys suggesting Britain was heading towards recession and boosting expectations the Bank of England will have to stimulate growth next month. Sterling was up 0.2 percent at $1.3140, having fallen nearly 1 percent on Friday. The euro, also was 0.3 […]

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