Sterling near 7-month low

LONDON, Safar 20, 1437, December 02, 2015, SPA — Sterling fell almost a third of a percent against a broadly stronger dollar on Wednesday, hurt by a survey of construction sector purchasing managers which came in almost 3 full points below market expectations, Reuters reported.

The poor numbers followed a similar miss on the equivalent manufacturing survey on Tuesday and added to a sense that the British economy is struggling to deliver the sort of sustained demand pressure that may prompt the Bank of England to raise interest rates.

Sterling was down 0.3 percent on the day at $1.5042, having traded as low as $1.5034. It was around 0.1 percent lower against the euro at 70.46 pence.
–SPA
14:07 LOCAL TIME 11:07 GMT