GBP/USD Little Changed, Construction Output Falls

GBP/USD is trading at 1.3360, up 0.0010. The pair is trading rangebound with a moderate overnight trading range. Market talk about headline European news and Bank of England (BOE) Monetary Policy is making the rounds. Chatter about traders adjusting positions ahead of the weekend is showing up. The UK Office for National Statistics reported that year over year construction output fell 1.9 percent in May versus a 0.6 percent decline in April. On the month construction output fell 2.1 percent versus a 2.5 percent rise in April. New housing was down 3.2 percent in May it was the largest contraction since February 2014.