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11 Jun 2013
Flash: GBP/USD ascension peaks at 1.5600 – Investec
FXstreet.com (New York) - The GBP/USD continued its recent run against the dollar opening above 1.5570 this morning having traded at 1.5600 overnight.
Its performance versus the Euro is somewhat muted in comparison, struggling to break through the 1.1750 mark. Overnight, May’s upbeat RICS housing survey provided further evidence that the housing market recovery is finding a firmer footing.
According to Lee McDarby, Corporate Treasury at Investec, “The seasonally adjusted house price balance for May showed that more of its members reported price rises rather than price falls in the preceding three months, the highest in nearly 3 years. Other activity levels continue to improve, with new buyer enquiries up to their highest since 2009, with sales expectations, sales per surveyor and agreed sales all climbing. Meanwhile, the RICS pointed to the Funding for Lending scheme playing a role in the recovery.”
Its performance versus the Euro is somewhat muted in comparison, struggling to break through the 1.1750 mark. Overnight, May’s upbeat RICS housing survey provided further evidence that the housing market recovery is finding a firmer footing.
According to Lee McDarby, Corporate Treasury at Investec, “The seasonally adjusted house price balance for May showed that more of its members reported price rises rather than price falls in the preceding three months, the highest in nearly 3 years. Other activity levels continue to improve, with new buyer enquiries up to their highest since 2009, with sales expectations, sales per surveyor and agreed sales all climbing. Meanwhile, the RICS pointed to the Funding for Lending scheme playing a role in the recovery.”