GBP/USD to 1.5520 as U.K. House Prices Rise

The pound rose for a fourth day versus the dollar, its longest winning streak since November, after a report showed U.K. house prices increased this month.

Sterling climbed to the highest level in more than two months against the U.S. currency. Average house-price values in England and Wales increased 0.3 percent, the same as in March, which was the largest gain in three years, Hometrack Ltd. said in an e-mailed statement today. In London, prices jumped 0.7 percent, the property researcher said.

The pound rose 0.3 percent to $1.5523 at 7:45 a.m. London time, after strengthening to $1.5527, the most since Feb. 15. Sterling was little changed at 84.18 pence per euro, after appreciating to 83.98 pence on April 26, the strongest since Jan. 24.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.