Pound Rises with Mortgage Approvals

The Great Britain pound advanced today after the data showed that the number of mortgage approval rose last month. The actual reading was below analysts’ expectations, but that did not deter the currency from appreciating.
According to British Bankers’ Association, the number of new mortgages approved for home purchase rose to 33,634 in November from 33,128 in October. The figure was below the median forecast of 34,600. The pound was especially firm versus the Japanese yen, which was weakened by speculations about a potential intervention from policy makers.
GBP/USD rose from 1.6133 to 1.6167 as of 13:27 GMT today, while its daily high was at 1.6200. GBP/JPY advanced from 138.07 to 138.80 and its daily maximum of 138.93 was highest since April 11, 2011.

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