02/08/2017 – This Morning’s Exchange Rates
- Posted by currencies in Rate Alerts
- August 2, 2017
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The exchange rates are listed at the bottom of this article, please note the rates are for indication only. For live quotes contact us vis email or phone.
Growth in Britain’s construction industry tumbled to an 11-month low in July, as a lacklustre outlook for the economy and heightened political uncertainty deterred new orders, a survey showed today.
The Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) fell to 51.9 from 54.8 in June, below all forecasts in a poll of economists that had pointed to a reading of 54.5.
The survey is another mixed signal for Bank of England policymakers meeting this week to set interest rates. A sister survey on Tuesday had shown British manufacturing growth improved last month thanks to an upturn in exports.
However, today’s PMI for construction, which accounts for around 6 percent of British economic output, showed a sector struggling to maintain momentum.
More important for BoE officials will be Thursday’s PMI for the services industry, which accounts for about 80 percent of British economic output. That will be released at 09:30 GMT.
GBP/EUR 1.1158
GBP/USD 1.3231
GBP/AED 4.8538
GBP/AUD 1.6602
GBP/CAD 1.6612
GBP/CHF 1.2801
GBP/NZD 1.7801
EUR/USD 1.1844
GBP/ZAR 17.491
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