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Pound Gains on Monday Despite Falling House Prices

August 20, 2018 at 11:48 by Vladimir Vyun

A fan of 50-pound billsThe Great Britain pound rose against its major rivals today. It was surprising, considering that Britain’s macroeconomic data was not good and the Brexit worries continued to weigh on the currency.

The Rightmove House Price Index dropped 2.3% in August from the previous month after falling just 0.1% in July. Year-on-year, the index rose 1.1%. The report claimed that it was just a “seasonal drop” because “new sellers launch a ‘late summer sale’ to try and find a buyer more quickly.”

GBP/USD edged up from 1.2741 to 1.2763 as of 11:40 GMT today. EUR/GBP dropped from 0.8968 to 0.8946.

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