EUR/GBP up to 0.8550 as British House Prices Climb

The pound was little changed against the euro following last week’s drop as an industry report showed U.K. house prices increased for a ninth month in October.

Britain’s currency was within two U.S. cents of a four-week high versus the dollar as the data added to evidence the economy is strengthening. Gross domestic product grew 0.8 percent in the third quarter, the most since 2010, the government said last week. British government bonds were little changed.

“The U.K. data should continue to be pretty good,” said Lutz Karpowitz, a senior currency strategist at Commerzbank AG in Frankfurt. “The GDP data last week were pretty strong, so this is something which could lead to some more sterling strength.”

Bloomberg

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