(Bloomberg) -- The pound fell against the euro for a
fifth day after an industry survey showed house prices rose at a
slower pace in May, a sign that four interest rate increases in
the past year is cooling the property market.
The U.K. currency slid to near its lowest in a week versus
the dollar after a report two days ago showed the number of loans
granted for house purchases declined in April. The pound is also
heading for its longest streak of losses since August versus the
euro and since October versus the dollar as separate reports today
showed mortgage approvals fell and consumer credit dropped.
Read more at Bloomberg Currencies News
fifth day after an industry survey showed house prices rose at a
slower pace in May, a sign that four interest rate increases in
the past year is cooling the property market.
The U.K. currency slid to near its lowest in a week versus
the dollar after a report two days ago showed the number of loans
granted for house purchases declined in April. The pound is also
heading for its longest streak of losses since August versus the
euro and since October versus the dollar as separate reports today
showed mortgage approvals fell and consumer credit dropped.
Read more at Bloomberg Currencies News
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