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Britain's BBA mortgage approvals fall unexpectedly

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Forex Pros - Mortgage approvals in the U.K. unexpectedly declined in April, industry data showed on Wednesday.

In a report, the British Banker's Association said that the number of new mortgages approved in April fell to 29.4K, compared to 31.2K in March, whose figure was revised down from 31.7K.

Analysts had expected the number of mortgage approvals to rise to 32.2K in April.

Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.17% to hit 1.6154.

Meanwhile, European stock markets were down. The FTSE 100 fell 0.2%, the EURO STOXX 50 declined 0.15%, France's CAC 40 slumped 0.2%, and Germany's DAX dipped 0.4%.

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

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