The pound recorded gains of around a third of a per cent against both the euro and the US dollar on Tuesday.

The UK’s construction industry is moving in the right direction. Even if the S&P Global Construction PMI remained in negative territory (below 50) in January at 48.8, that marked an increase from last month’s 46.8 and the slowest rate of contraction since August.

GBP/USD: the past year

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