Pound Rises vs. Euro with Increase of Mortgage Approvals

The Great Britain pound advanced against the euro today after the Bank of England reported about the higher than expected increase of the mortgage approvals in the previous month.

The number of loans for the  house purchases rose to 52,000 in the previous month, from 48,000 in February. The number of Britons willing to make a first time purchase of a property has dropped in the previous month to the lowest level in almost two decades, making the government to scrap the tax on the house purchases if the purchase performed for a first-time and valued less than 250,000 pounds.

EUR/GBP traded at about 0.8668 as of 11:43 GMT today down from the opening price of 0.8688.

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