Pound euro exchange rate: Sterling rises despite contraction of UK construction sector

This morning, the pound rose by nearly 0.6 percent against the euro, and the pairing is currently trading at around €1.167. Data revealed this morning that construction activity in the UK declined for the first time in 11 months as the Markit construction PMI slipped into contraction territory, sliding from 50.6 to 49.5 with housing being the only category to register growth.

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