BLBG:Pound Approaches Two-Year High Before U.K. Construction Report
The pound approached a two-year high against the dollar before an industry report that economists said will show U.K. construction activity expanded for a seventh month in November.
Sterling advanced against all except one of its 16 major counterparts after appreciating to the strongest since January versus the euro yesterday. An index of construction based on a survey of purchasing managers was at 59 from 59.4 in October, according to a Bloomberg News survey before the data from Markit Economics. A reading above 50 shows expansion.
The pound approached a two-year high against the dollar before an industry report that economists said will show U.K. construction activity expanded for a seventh month in November.
Sterling advanced against all except one of its 16 major counterparts after appreciating to the strongest since January versus the euro yesterday. An index of construction based on a survey of purchasing managers was at 59 from 59.4 in October, according to a Bloomberg News survey before the data from Markit Economics. A reading above 50 shows expansion.
