Sterling sold on Rightmove report
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
This morning the pound has been sold after Rightmove released its house prices survey showing prices are down 2% on the year to £235,219. Rightmove confirmed that stocks of unsold homes has hit record levels. Sterling lost just under 1 cent on the US dollar. Doom and gloom comments from MPC arch-dove Blanchflower has not helped the situation. It is now even less likely the Bank of England’s Monetary Policy committee will raise rates in August.
Against the Euro, Sterling was sold to 79.69 pence from 79.29 pence.
Monday 21 July 2008, 11:01am
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