The Great Britain pound was soft at the start of this week and maintained weakness today. UK housing data was unexpectedly poor, damping optimism about recovery in the United Kingdom.
The Rightmove House Price Index fell 2.4 percent in November after rising 2.8 percent in October. The data damped optimism caused by last week’s positive fundamentals.
The Bank of England will release minutes of its last monetary policy meeting on November 20. They are expected to show that policy makers voted unanimously to keep the size of asset purchases and interest rate unchanged. Market participants will study the minutes to see what central bank’s members think about prospects for monetary tightening.
GBP/USD fell from 1.6107 to 1.6103 and GBP/JPY dropped from 161.06 to 160.75 as of 5:34 GMT today. EUR/GBP rose from 0.8381 to 0.8387.
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