The Great Britain pound extended its losses versus the US dollar and the euro today after the report showed that the house prices in Britain decline more than forecast last month.
The House Price Index of the Halifax Bank of Scotland declined 0.9 percent in February, offsetting the January’s gain by 0.8 percent. Some economists, including Chris Huddleston, the trader at Investec Bank Plc, think that this downward move of the sterling was caused by the
GBP/USD traded near 1.6270 as of 13:10 GMT today after it opened at 1.6275 and went down to the intraday low of 1.6233. EUR/GBP traded near its opening price of 0.8580 after rising to 0.8598, the highest level since January 31.
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