April 4, 2018 / 8:17 AM / in 10 months

Sterling edges up against dollar ahead of construction PMI

* Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh

* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv

LONDON, April 4 (Reuters) - Sterling was on track for its fourth consecutive day of gains against the dollar on Wednesday as traders paused ahead of a survey of Britain’s construction sector.

At 0900 GMT, the pound was up by 0.1 percent at $1.4071 amid broad general dollar weakness after receiving support yesterday from British manufacturing survey data that exceeded expectations.

Against the euro, sterling traded flat at 87.33 pence .

A purchasing managers’ index (PMI) for the construction sector was expected to show activity at 50.8 for February, according to analyst expectations, down marginally on the previous month.

In January, Britain’s construction sector came close to contracting for the first time since September as uncertainty linked to Brexit caused new orders to dry up.

Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM, said the pound could trade higher this month with investors potentially using $1.40 as a possible pivot level. (Reporting by Tom Finn; Editing by Angus MacSwan)

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