Pound Gains vs. Dollar, Retreats vs. Yen

The Great Britain pound gained today against the US dollar on the back of relatively positive housing data. Gains were limited though, and the currency dropped versus the Japanese yen.
The Nationwide House Price Index rose 0.2 percent in December. While it was not a bad result, the increase was smaller than the November’s 0.3 percent. HPI growth slowed on an annual basis as well. Despite the small gain of the pound on the dollar, analysts do not expect the rally to persist as the US currency has enough reasons to outperform the sterling.
GBP/USD rose from 1.5515 to 1.5539 as of 12:07 GMT today. GBP/JPY sank from 187.20 to 185.57.

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