UK January manufacturing PMI 62.0

Up from revised 58.7 in December, and demonstrably better than median forecast of 57.9. Highest read since survey began in 1992.

Cable spikes over 1.6100, presently at 1.6115.

Elsewhere, UK December mortgage approvals came in at 42,563 versus 47,287 in November, some way below median forecast of 47,000. Mortgage lending -0.298 bln (that’s a minus), down from +0.483 bln in November, weaker than median forecast of +0.65 bln. Lowest since March 2009. Housing market continues to look very fragile.