The Great Britain pound dropped today after a report showed that house prices did not grow this month after falling in the previous months. The data added to the previous signs of economic weakness in the United Kingdom.
Hometrack reported that house prices did not change in January after declining the previous six months, including November and December, when prices went down 0.1 percent. The report followed last week’s data that showed a decline of the UK economy. Yet the majority of respondents in the report were optimistic for the housing market in spring and the report said:
Despite the slow start recorded in the January survey, the housing market looks to be in slightly better shape than at the start of the previous two years.
GBP/USD fell from 1.5758 to 1.5741 as of 10:11 GMT today and its intraday low of 1.5714 was lowest since August 21. GBP/JPY went down from 143.47 to 142.81.
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