The pound strengthened for a second day against the dollar as an industry report showed U.K. house prices jumped the most in 18 months on an annual basis in May.
Sterling climbed versus the U.S. currency after reaching a two-month low yesterday. Home prices rose 1.1 percent from a year earlier, the most since November 2011, the Nationwide Building Society said in an e-mailed statement. They climbed 0.4 percent from April to an average 167,912 pounds ($254,700).
The pound rose 0.3 percent to $1.5172 at 7:26 a.m. London time after falling to $1.5009 yesterday, the least since March 14. The U.K. currency was at 85.51 pence per euro.