The pound traded in a narrow range yesterday, ultimately going nowhere but maintaining its position close to 15-month highs.
This morning we heard that UK house prices continue to rise strongly, at around 0.7% in June according to the Nationwide Building Society – 13.4% annually – which was broadly in line with expectations.
The rise in prices is being blamed on the pandemic changing property expectations as well as cheaper borrowing costs. At 9.30am that may be confirmed by mortgage approval data.
Tomorrow morning we’ll be hearing about GDP from the UK.
