The pound has got its mojo back thanks to some solid UK economic data. The construction PMI improved to 55.9 in May from 54.2 previously, easily beating the expected reading of 55.1. On top of this, the latest lending data showed a few positive surprises too. The number of mortgages taken out by individuals rose to more than 68,000 in April, which was not only better than 64,000 expected but was the highest since last February. Meanwhile, the value of mortgages was £1.9 billion in April compared to £1.8bn in March – the largest amount since November. Overall net lending to individuals totalled £2.9 billion in April ... (full story)