Mubasher: UK construction activity declined by 0.6% in the three months ended January, data released on Tuesday showed.

The decline came on the back of a fall of 2.3% in repair and maintenance, but it was compensated by an increase of 0.3%, the Office for National Statistics (ONS) said.

However, construction output bounced back on a monthly basis last January, as it rose by 2.8%, reversing a 2.8% drop last December.

In the fourth quarter of last year, new orders declined by 1.9% compared with the prior quarter.

By 11:09 am GMT, the GBP/USD pair rose 0.41% to $1.3204, as the EUR/GBP pair declined 0.12% to GBP 0.8540.