Fundamental Analysis

GBP/USD: UK Construction PMI


The British Pound was slightly higher against the US Dollar on the release showing stronger activity in the country's construction sector. The GBP/USD added 8 base points to keep appreciating up to the 1.3500 level, though the pair was hit strongly as the BBC said not to anticipate deal to be reached from Brexit negotiations on Monday.

Housebuilding in the UK stimulated activity in the country's construction industry in November, compensating weakness in other parts of mostly downbeat sector. The IHS Markit/CIPS said that the Britain's Construction PMI reached the highest level in five months of 53.1 in the reported month, entirely driven by the residential projects, while civil and commercial engineering activity kept contracting.

Author: Dukascopy Swiss FX GroupWebsite:
Dukascopy Swiss FX Group
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