Stronger UK housing data released earlier has put a line under the pound for the moment on the expectation of the need for higher interest rates to curb further acceleration.
Cable has been up to 1.6464 pushing EURGBP back down below 0.8300 to 0.8287 but both pairs seeing some GBP sellers again .Currently 1.6446 and 0.8292.
GBPJPY steadier around 171.50
My own view remains unchanged that higher interest rates will not be a positive for the UK economy and can seriously damage any recovery that we’ve been seeing.
Construction PMI data coming up at 09.30 GMT