British Pound Gains on Rightmove House Price Survey


    DailyFX.com -

    Talking Points:

    • The Pound Sterling gained on news of higher UK hour prices
    • Rightmove said the average asking price was up 1. 3 % on the month in March
    • However annualized gains remain very sticky

    The British Pound rose Monday on news that UK house prices continued to rise in March.

    Property tracking website Rightmove on Monday said that asking prices were up 1.3% on the month, following a 2% rise in February.

    Compared to March 2016 however, prices were up just 2.3%. That isn't bad, but it's the same pace as that seen in the prior month, which was the lowest print since April 2013.

    Before the Brexit vote in June 2016, prices were rising by about 8% or so. Still, given the worries percolating back then about the sustainability of such gains and the lack of affordability it brought with it, a slower pace of growth won't necessarily worry policy makers.

    The Pound gained against a generally weaker US Dollar with GBP/USD getting up to 1.2393 after the survey release, from 1. 2380 just before it.

    Supportive news : GBP/USD after the Rightmove Survey

    British Pound Gains on Rightmove House Price Survey

    Would you like to know more about trading the financial markets? The DailyFX Trading Guide is for you.

    --- Written by David Cottle, DailyFX Research

    Contact and follow David on Twitter: @DavidCottleFX


    original source

    DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
    Learn forex trading with a free practice account and trading charts from IG .

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



    This article appears in: Investing , Forex


    More from DailyFX

    Subscribe






    DailyFX
    Contributor:

    DailyFX

    Forex
    Follow on: