Activity in the construction sector rose more-than-expected in January data showed on Tuesday. After the lowest reading in 17 months in December the index climbed from 57.6 points to 59.1 points, beating forecasts predicting a decline to 56.9. A reading of above 50 indicates expansion of the sector.

The British pound is trading lower against the greenback despite the upbeat data currently quoted at 1.5028 after hitting lows at 1.4988 today.