Pound v US dollar: GBP exchange rate nears 11-month high against USD

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The rally beyond $1.323 is partly the result of UK economic resilience, and partly a reflection of the ongoing political upheaval in the White House.

While yesterday’s UK manufacturing PMI inspired hope

that the nation’s economy bounced back at the beginning of the third quarter after struggling for the first half of 2017, the latest UK news has actually been negative, showing a surprising slowdown in UK construction sector activity.

In July, the construction PMI index fell from 54.8 points to 51.9, much lower than the expected 54.5 figure.