EURGBP Pushes Higher After Weaker UK Construction PMI

The pound extended its losses against the euro after a gauge of U.K. construction growth unexpectedly slowed to the weakest in a year in August.Sterling was set to reverse its gains made Friday versus the euro. The British currency has been buffeted by a lack of progress in Brexit negotiations between the U.K. and the European Union. The third round ended in stalemate last week, spurring doubts that the two sides would be ready to discuss a trade deal any time soon. Markets will keep an eye on politics with the U.K. House of Commons reconvening on Tuesday after its summer recess.

Source: Pound Extends Loss Versus Euro as U.K. Construction Growth Slows – Bloomberg

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