FXMarketAlerts Team
FXMarketAlerts
Published at 05:46 (GMT) 10 Apr
UK house prices unexpectedly picked up speed in March and sales reached a 6-year high, a survey showed on Thursday, suggesting the market is still firmly on the rise, after recent releases indicated a slight loss in momentum. RICS house price balance rose last month to +57 from an upwardly revised +47 in Feb.
The rise took the balance near to Nov's +58, highest since June 2002. - Reuters.
From BBC: House prices will continue to rise across the country until more homes are put on the market, an industry body has said. The lack of homes for sale was a "major concern" and there was a "desperate need" for more, RICS said. Buyer inquiries rose in every area of the UK except Wales in March, its latest survey found.
On FX, Cable supported by the strong UK house prices. Putting pressure on BoE to hike earlier than expected? GBP/USD back down at 1.6790-95, off the morning 2-month highs of 1.6821. A break of 1.6820-25 will see Cable at its highest level in 4-year 5-month highs of 1.6845. Highest since Nov 18 2009.
EUR/GBP at 0.8244-45, tight range of 0.8242-0.8250 so far. Interest to sell on rallies for break of 0.8200 handle. Offers 0.8280-00. WL
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