Manufacturing, mortgages and money supply all fall

28 July, 2011


Sterling fell this morning on 3 worse-than-expected data releases in the UK. Mortgage approvals fell to 45,000 in April, signalling more problems in the housing market, while manufacturing growth fell and the measure of money supply in the economy was also below expectations.

There is not much else due out this week in terms of UK data, so the Pound may struggle to recover much ground. Exchange rates fell nearly a cent against the Euro and US Dollar this morning.