Pound Sinks as UK Housing Sector in Trouble
The Great Britain pound slumped today as the fundamental data suggested that Britain’s housing sector is struggling, leading to fears that economy recovery in the United Kingdom may stall.
The House Price Index of Nationwide Building Society fell 0.1 percent in December, following no change in the prior month. Analysts have expected a 0.1% percent increase. Moreover, the Markit/CIPS construction Purchasing Managers’ Index fell from 49.3 in November to 48.7 in December instead of rising to 49.6 as was predicted.
GBP/USD slid from 1.6253 to 1.6155 and GBP/JPY tumbled from 141.94 to 140.63 as of 13:28 GMT today.
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