The Great Britain pound dipped against the US dollar and erased its earlier gains versus the Japanese yen today as traders have flocked to safer currencies after the weekend talks between Greece and its creditors had failed.
Greece has little time for negotiating more favorable deal with creditors as the deadline for debt repayment at the end of the month nears. Yet it looks like the negotiating sides are nowhere near reaching an agreement.
As for news from Great Britain itself, UK macroeconomic data was positive as the House Price Index demonstrated substantial growth in June. Yet the report has not been able to boost the currency to any noticeable degree.
GBP/USD dropped from 1.5546 to 1.5507 as of 12:10 GMT today. GBP/JPY traded at about 191.52 after rallying from 191.46 to 192.03 earlier.
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