Pound struggles despite higher house prices

28 July, 2011


No real news from the Bank of England today, which kept UK interest rates on hold at 0.5% and maintained the QE programme at £200bn. The policy amounts to a “wait and see” until the next inflation report in February.

In other news, house prices are up 1.1% compared to last December – the first year-on-year rise since March 2008. This should be good news for the Pound, but the political turmoil surrounding Gordon Brown is perhaps holding back any progress for sterling.

The Pound now buys less than $1.60 and less than €1.11. To get the best available deal, contact an FSA-regulated currency company if you are looking to buy or sell any currency over £5,000.