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March 4, 2021 - Written by John Cameron
The Pound to Australian Dollar (GBP/AUD) exchange rate lost its footing even as the UK construction PMI bettered forecasts.
Although forecasts had pointed towards an uptick in the PMI the index surprised investors by jumping from 49.2 to 53.3 on the month.
This suggests that the construction sector returned to a state of solid growth in February, in spite of the ongoing pressures stemming from the Covid-19 crisis.
However, the ultimate impact of the data was ultimately limited thanks to the fact that the construction sector only accounts for a small fraction of the UK gross domestic product. ....

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