Pound Falls as CPI & HPI Drop
The Great Britain pound fell against the US dollar today after reports showed that inflation slowed and house prices unexpectedly declined, adding incentive for the Bank of England to stimulate the economy. The currency advanced against the euro after four days of losses.
The consumer price index was 3.0 percent in April on an annual basis, down from 3.5 percent in the month before. The house price index fell 0.4 percent in March from a year ago, compared to the expected increase by 0.5 percent and the February growth by 1.0 percent. The index declined 0.6 percent on a monthly basis. The International Monetary Fund recommended the BoE to add stimulus for the UK economy.
GBP/USD was down from 1.5827 to 1.5779 as of 13:13 GMT today. EUR/GBP dropped from 0.8094 to 0.8084.
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Earlier News About the Great Britain Pound:
- Risk Appetite, Better Situation Help UK Pound (2012-05-18)
- Pound Falls as UK Economy Threatened by Europe's Crisis (2012-05-16)
- UK Pound Drops Against Stronger Euro (2012-05-15)
- Pound Gains, Threatens Economy of UK (2012-05-14)
- GBP Falls vs. USD & JPY, Gains vs. EUR Over This Week (2012-05-12)