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Pound Little Changed Versus Dollar After U.K. House Price Report - (Bloomberg)

Posted by Chris Advincula on Oct 28, 2013 5:02:00 AM

By: Neal Armstrong - Oct. 28, 2013 3:48am ET

 

The pound was little changed versus the dollar and euro after an industry report showed U.K. house prices increased this month.

Average home values in England and Wales rose 0.5 percent, matching September’s increase, London-based property researcher Hometrack said in a statement. Annual price inflation accelerated to 3.1 percent, the most since November 2007, Hometrack said. A Confederation of British Industry report will show a gauge of annual sales growth fell to 32 in October from 34 last month, according to the median estimate in a Bloomberg News survey of economists before the data is released today.

The pound traded at $1.6177 as of 7:47 a.m. London time after rising to $1.6257 on Oct. 23, the highest since Oct. 1. Sterling traded at 85.33 pence per euro after depreciating to 85.55 pence on Oct. 24, the weakest level since Aug. 29.

The pound gained 3.2 percent in the past three months, making it the best performer among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes. The euro rose 1.8 percent, while the dollar fell 2.5 percent.

Gilts lost 2.2 percent this year through Oct. 25, according to Bloomberg World Bond Indexes. Treasuries fell 1.8 percent and German securities slid 1.4 percent. 

 

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Chart: WorldWideMarkets Alpha Trader

 

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Source: Bloomberg

 

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