The Pound Sterling Live - The Heart-Beat of the British Pound

British Pound Sterling Live on Thursday: GBP hit as construction PMI data fail to emulate manufacturing figures

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Category: The Pound Sterling Live - The Heart-Beat of The British Pound

Published on Thursday, 03 January 2013 09:58

Written by Sam Coventry

12:55: Pound sterling under pressure

The pound dollar exchange rate is 0.6 pct in the red at 1.6159.

The pound euro exchange rate is 0.06 pct up at 1.2337.

The pound Australian dollar exchange rate is 0.55 pct lower at 1.5391.

9:45: Sterling off to a poorly start

The pound sterling (Currency:GBP) is broadly softer this morning, construction sector activity in the UK shrank more-than-expected in December, slowing to a six-month low, industry data showed on Thursday.

In a report, market research firm Markit and the Chartered Institute of Purchasing & Supply said that their UK construction purchasing managers' index fell to a seasonally adjusted 48.7 in December from a reading of 49.3 in November.

Economists had expected the index to ease up to 49.5 last month.

Yesterday sterling found support from manufacturing PMI data that reached 51.4 last month from 49.2 in November.

The pound euro exchange rate is 0.07 pct higher on last night's closing rate, GBP/EUR is at 1.2338.

The pound dollar exchange rate is 0.19 pct lower at 1.6224.

The pound Australian dollar rate is 0.24 pct in the red at 1.5441.