Pound Shows Upside Bias as Housing Market Stabilizes

The Great Britain pound was trading sideways and is currently showing an upside bias after the RICS house price balance unexpectedly worsened last month, but analysts thought that the housing market is stabilizing.
According to the Royal Institution of Chartered Surveyors 9 percent more chartered surveyors reported falling prices during November (resulting in the net balance of -9 percent). Specialists have expected the balance to improve from Octobers -7 percent to — 5 percent. Despite the worse-than-expected reading, the report said:

While slightly up in October’s reading, this still suggests that the market is now beginning to stabilise.

GBP/USD rose from a little from 1.6073 to 1.6081 and GBP/JPY advanced from 132.31 to 132.62 as of 10:26 GMT today.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *