Bloomberg News

Pound Declines Versus All Peers Before House Price Report

July 06, 2011

July 6 (Bloomberg) -- The pound weakened against all 16 of its major peers tracked by Bloomberg before a report forecast to show U.K. house prices stagnated in June.

The cost of a home in Britain was little changed from May when it increased 0.1 percent, Halifax, the mortgage unit of Lloyds Banking Group Plc, will say, according to the median estimate of seven economists in a Bloomberg survey. Prices charged by retailers rose 2.9 percent from a year ago after advancing 2.3 percent in May, the British Retail Consortium said in a separate report today.

The pound weakened 0.3 percent to 90.12 pence per euro as of 7:49 a.m. in London. Sterling was little changed at $1.6027 and dropped 0.5 percent to 129.61 yen.

--Editors: Matthew Brown, Mark McCord

To contact the reporter on this story: Garth Theunissen in London at gtheunissen@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus