Sterling continued its upward trajectory early yesterday, at one point breaching the psychological barriers of 1.64 against the US dollar and 1.21 against the euro, before falling from these peaks to even finish down against the dollar. Yesterday’s momentum came following strong data from the manufacturing sector. The purchasing managers index (PMI) for the manufacturing showed better levels than expected, allowing sterling to climb higher early on after this latest piece of sustained positivity around the UK’s economic recovery. The more of this there is, the more investors will look to the Bank of England to raise interest rates ahead of schedule, in a move that would be positive for sterling. Today, the second in the monthly trio of PMI figures will be released, this time from the construction sector. Similar events as yesterday could yield similar reactions, with this being the only major event of the day. Get in touch with your trader now for the latest sterling rates, as we sit close to the highest in a long while.