UK Construction PMI Disappoints at 46.8 – GBP/USD Erases Gains, Approaches 1.50

Markit’s purchasing managers’ index for the construction sector dropped to 46.8 points in January. This is the lowest since October 2009. Expectations were for a minor climb from 48.7 to 49.2 points, below the 50 point mark separating growth and contraction. GBP/USD rose towards the event, reaching 1.5050 from the lows of 1.5020 earlier in
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