Sterling drifted lower against the euro during the course of yesterday before perking up late in the day and regaining some of its earlier losses. Against the US dollar it again hit a new 28-month low.
Yesterday’s data included RICS House Price Balance, which is a survey of whether property surveyors have seen a rise or decline in prices in their area. The result of 61% shows that many more are seeing price rises, however this is a fall from between 72 and 80% for the earlier part of the year and was well below the 71% forecast.
There are no significant data releases today or on Monday, but there will be keen interest as the Tory leadership (and hence Prime Minister) TV debates start.
