The pound was near to a three-month high against the euro and at a weekly high against the dollar yesterday following Monday’s announcement about the easing of lockdown restrictions on July 19. The government has said that if the data allows, mask-wearing and social distancing will be optional.
Construction PMI data was released for the UK yesterday, with the figure rising to 66.3 in June. This shows that the sector had the strongest rate of output growth since June 1997 following the reopening of the UK economy. House building activity and commercial work both grew at a fast pace.
House price data will be released later today, and the markets will be looking to Friday for UK GDP data. It is expected to show that the economy grew by 3.9% in the three months to May.
