Published by Zeb BhamA rise in consumer confidence in the UK may provide support for the pound on foreign exchange markets, although the nascent recovery remains fragile.The latest report from Nationwide shows consumer confidence climbed from 70 to 73 in December, with any figure above 50 indicating a rise.Martin Gahbauer, chief economist at Nationwide, commented: "Positive signs from the manufacturing sector and labour market may have helped to boost confidence in January, but it is likely to remain fragile for some months.The fragility of recovery was yesterday highlighted in the latest purchasing managers' index, which showed further declines in construction activity last month. However, there was optimism that order levels will improve in the weeks ahead.Although the forex market calendar is relatively clear for sterling activity today, foreign exchange dealers will be looking ahead to the publication of the Bank of England's latest monetary policy statement tomorrow.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site