Pound Rises amid Calm Trading, Housing Data Supports

The Great Britain pound rose today in absence of any significant news after the Brexit extension till October 31. Positive domestic macroeconomic data might have helped the currency a bit.
The Rightmove House Price Index rose 1.1% in April, the biggest monthly increase in over a year and the biggest gain for this time of year since 2016. The index was up 0.4% in March. The report mentioned the Brexit delay as a positive factor that may have contributed to the rise:

Brexit delay could boost spring market activity as short-term uncertainty recedes.

GBP/USD gained from 1.3071 to 1.3101 as of 10:42 GMT today. GBP/JPY edged up from 146.32 to 146.68.

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Your email address will not be published.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 *