GBP/JPY Drops on Consumer Confidence, GBP/USD Erases Losses

The Great Britain pound dropped versus the Japanese yen today with the decline of consumer confidence, but erased losses versus the US dollar after the positive report about house prices.

Nationwide House Price Index rose 1.0 percent in October, exceeding the forecast of 0.7 percent. At the same time, the GfK Consumer Confidence Index declined from -10 in September to -11 in October. The mixed data resulted in the mixed performance of the sterling.

GBP/USD was at 1.6028 as of 12:41 GMT today after falling from 1.6036 to 1.6005. GBP/JPY dropped from 157.96 to 157.61.

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