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UK Construction PMI falls below expectations- GBP/USD slips
The latest (June) UK construction PMI data has just been released. It has not matched forecasts, falling to 52.2 from 54.7. The markets had expected a reading of 53.6. The immediate reaction saw the Pound slip back versus the dollar, but not by much. It is edging lower now though, but whilst this data was a little disappointing it could be eclipsed by the political events unfolding in the UK today, with voting in the General Election now underway. So, it is far from certain this data will have much of a lasting impact. The GBP/USD is currently trading at 1.2753
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