The Great Britain pound fell today against the U.S. dollar and some other major currencies as the macroeconomic indicators spurred the concern that the budget cuts would hurt the Britain’s economy.

According to the Halifax Home Price Index, the house prices fell by 0.6% in June following a similar decline in May, while the economists expected the prices to rise by the same value. The analysts think that the previous gains of the sterling have raised the currency too high, making us expect further declines.

GBP/USD traded at about 1.5156 as of 12:09 GMT today after opening at 1.5189.

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