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Sterling falls after UK construction PMI disappoints

LONDON, Jan 5 (Reuters) - Sterling fell against the dollar on Wednesday after data showed activity in UK’s construction sector contracted in December and backed views that an economic recovery was on shaky ground. [ID:nLAJ002442]

Sterling fell to $1.5559 GBP=D4 from around $1.5593 before the numbers were released. The euro rose against the pound EURGBP=D4 to 85.20 pence, from 85.10 pence before the numbers.

Gilts were little changed. The March gilt future added two ticks after the data to 119.20, up 27 ticks on the day. Britain's FTSE 100 .FTSE slightly extended losses after the PMI data, trading down 0.3 percent at 5,996.49 points by 0934 GMT.

Reporting by London Markets team

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