GBP/USD slips back below 1.20 after UK construction PMI drops to 45.0 in Aug

The construction sector activity in the UK fell deeper into the contraction territory last month, the latest survey report from Markit Economics showed this Tuesday.

The final Purchasing Managers' Index (PMI) came in at 45.0 in August, down slightly from 45.3 recorded in July and missed the consensus estimates pointing to a reading of 49.5.