Sterling rose to a 15 month high against the euro on Monday following a series of strong property indicators.
The pound was up 0.5 per cent on the euro, the highest point since June
2005 at 0.668p and was up 0.2 per cent on the dollar, at $1.902, in mid-afternoon foreign exchange trading in New York.
Confidence in sterling was strong on the back of a Hometrack report showing that October witnessed the fastest house price rises in two years.
This was bolstered by Bank of England figures showing that September mortgage approvals hit their highest level for two and a half years.
The figures showed that the UK property market had ridden through August's interest rate rise, said analysts, and paved the way for another quarter point rise next month.
"Everything seems to be leaning towards a rate hike next week and I can't see anything between now and then that will change that," Adrian Hughes, currency strategist at Societe Generale, told the Financial Times.
Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter
Contact Us
Currency Converter
Today's Currency News
Sterling witnessed a pullback against the majors yesterday after the BoE lowered its 2012 GDP growth...
Currency Rates
| US Dollars | 1.5817 |
| Euros | 1.2452 |
| Swiss Francs | 1.4955 |
| Australian Dollars | 1.5907 |
| South African Rand | 13.177 |
| GBP indicative mid-market rate at 15:40. Please call for quote. | |
Currency Solutions Ltd is registered in England, Company No. 4864491.
© 2003 - 2012
Registered address is Hobbs Court, 2 Jacob Street, London SE1 2BG.
HM Revenue & Customs, No. 12162570
Regulated and authorised by the Financial Services Authority,
as a Payment Institution, No. 512130