GBP Shows Fractional Weakness Amid Bullish Sentiment

The British Pound has shown fractional weakness against the Dollar in Thursday's trading session, declining by 0.1% from its Wednesday close.

Data releases have been limited to third-tier construction PMI figures, which came in at 44.7 vs. an expected 40.0 and a previous reading of 38.4. This marks an unexpectedly strong recovery in the index, although it remains firmly in contractionary territory.

Fundamentals appear less supportive for the GBP as yield spreads have softened again, but sentiment is improving as market participants continue to fade politically-motivated concerns following PM Burnham's arrival and commitment to fiscal responsibility.