The Great Britain rose today, recovering from the last week’s slump a bit, as the construction sectors expanded more than was anticipated, adding to mounting evidences of economic recovery in the United Kingdom.
The Markit/CIPS UK Construction Purchasing Managers’ Index rose from 58.9 in September to 59.4 in October. It was a surprise to market participants as they have expected the gauge to stay unchanged. The rise of index, which is above the neutral 50.0 level, means faster expansion and it looks like the UK economy may outperform not only the struggling economy of the eurozone, but also the US economy, which was hurt by the partial government shutdown.
GBP/USD was up from 1.5923 to 1.5967, following the drop to 1.5902 — the lowest rate since October 16, and GBP/JPY advanced from 157.35 to 157.59 as of 12:18 GMT today.
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