The Great Britain pound was flat today after rising against the euro and the Japanese yen yesterday. The rally was caused by yet another set of good reports that confirmed the relatively healthy state of the UK economy.
Royal Institution of Chartered Surveyors reported that the house price balance rose from 21 percent in June to 36 percent in July. It was the fastest growth of price since the peak in 2006. The report concluded:
These results are great news for the property market as it looks like at long last a recovery could be around the corner.
The annual consumer inflation gauge fell a little from 2.9 percent in June to 2.8 percent in July.
The sterling was strong against the euro and the yen, but was somewhat soft versus the US dollar yesterday.
GBP/USD was at 1.5439 as of 5:32 GMT today after falling from 1.5459 to 1.5445 yesterday. EUR/GBP went down from 0.8599 to 0.8583 on yesterday’s trading session and remained at this level on today’s session. GBP/JPY traded near 151.75 following the rally from 149.78 to 151.67.
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