UK property set to recover
According to respondents of the Building Society Association tracker survey, property prices are set to recover by 1.4% over the next year. This is a significant change from the recent 6.1% drop in property prices and the 7% fall predicted for June. The UK property sector has been battered by the current recession. As property is a substantial indicator of economic health in the UK economy, property related news can significantly affect currency exchange rates.
Next week in the UK the Rightmove house pricing index is published and this could induce some currency volatility for the pound.
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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.