LONDON, June 6 (Reuters) - The pound slipped on Tuesday as data showed that British house building wilted in May and the dollar found a footing.
The survey data showed house building in Britain fell at its fastest pace since May 2020 last month as construction companies struggled with rising interest rates.
Yet the headline concealed divergence within the construction sector, with commercial and civil engineering activity rising but house building suffering.
Turner said this could lead to the Bank of England (BoE) raising interest rates by less than markets expect.
Traders currently envisage rates rising to around 5.4% later this year, from 4.5% currently.
Persons:
Sterling, Chris Turner, Turner, BoE, Harry Robertson, Mark Potter
Organizations:
ING, Bank of England, Traders, Thomson
Locations:
Britain