Pound Weakens as UK Houses Prices Decline
The Great Britain pound dropped today after the report showed the decline of the house prices, signaling about the lack of the buyers’ confidence and the lack of the mortgages.
The survey of Royal Institution of Chartered Surveyors showed that the surveyors reporting the prices decline exceeded by 36 percent those who reported about the increase of the prices in September. That’s compared with the previous reading of 32 percent reporting decrease.
GBP/USD fell from 1.5881 to 1.5818 as of 10:20 GMT today, while GBP/JPY went down from 130.31 to 129.79 after it climbed to 130.72.
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Earlier News About the Great Britain Pound:
- Pound Reaches Eight-Month Record as Rates Remain Unchanged (2010-10-07)
- Pound Drops on Talks About Stimulus (2010-10-06)
- Services PMI Boosts Great Britain Pound (2010-10-05)
- Britain's Pound Falls with Mortgage Approvals (2010-09-29)
- UK Budget Deficit Widens, Pound Weakens (2010-09-22)