Earlier release today had shown UK construction output rising 2.0% in Q3 vs Q2. This was a very large revision for the July-September period from an initial estimate of a 1.1% decline published in last week’s second reading of Q3 GDP.
Cable retains bid-tone, presently at 1.6620. Trailing support 1.6595/00, resistance 1.6645/50.
I’ll be interested to see the price action around the 11:00 GMT fix given the reports of sterling demand there. I wonder how much has been front run. Interesting.
