UK construction growth hits four-month high; eurozone recovery strengthens – business live

Sterling has slipped back after Theresa May accused the EU of attempting to influence the outcome of the UK general election.

The pound, which had earlier climbed as high as $1.2949 against the dollar, is currently down 0.26% at $1.2902. Jameel Ahmad, vice president at FXTM, said:

While the British Pound has hardly tumbled as of writing, the comments from Theresa May on Wednesday afternoon do go some way towards disclosing how strained relations with the European Union have become after invoking Article 50, and the risk of them becoming worse are significant when you consider how tense the negotiations with the EU are likely to get over the next two years.

Related: Theresa May accuses EU of meddling in UK general election

US crude inventories dropped last week, but not as much as analysts had been forecasting.

According to the Energy Information Administration, crude stocks fell by 930.000 barrels to 527.77m, but this was below forecasts of a 2.3m decline.

#UnitedStates EIA Crude Oil Stocks Change at -0.930M

Continue reading…

Read full original article »