LONDON: Sterling rose and gilts extended losses on Friday after a survey showed UK construction activity jumped to its highest level in more than three years, while UK shares trimmed gains.
This followed a much stronger-than-expected survey on manufacturing on Thursday and suggested the economy began the third quarter on a strong footing.
Sterling rose to $1.5179 against the dollar, up from around $1.5145 just before the data was released to trade with gains of around 0.3 percent on the day. The euro fell to a session low of around 87.10 pence from 87.30 pence beforehand.
September gilt futures fell over 20 ticks to hit a session low of 111.29, down over 80 ticks on the day.
The FTSE 100 index slightly trimmed gains after the UK construction PMI data. The index was up by around 0.1 percent before the data was released, but then pared those gains slightly to turn flat at 6,683.71 points by 0833 GMT.
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