Sterling ended the day largely unchanged, despite an interesting afternoon where competing data sent it one way then another against the euro. This morning so far has been positive for GBP/EUR.
From the UK the most interesting data yesterday was the shock result for mortgage approvals, which shot up from 51,000 in May to nearly 55,000 in June, while consumer credit increased at its fastest rate since 2018.
How much as all that credit affected the housing market? We have just heard that house prices fell again in July, by 0.2%, taking the annual decline in property values to 3.8%, according to the Nationwide Building Society.
GBP/EUR past year
From To
