The British pound recuperated from a one-month low versus the euro Thursday, as better UK house prices backed stance consumer demand remains strong.
According to Royal Institution of Chartered Surveyors, British monthly house price balance climbed to +44 in July from +40 in June, its highest since July 2014.
Sterling stood at 71.15 pence per euro. Against the US dollar, the pound ended at $1.5580.
Risks caused by Greece have subsided. The European economy is on an upward direction. And Britain is close to increasing rates. They induce “increasingly widespread view that this currency pair is unlikely to deliver further drama,” said Richard de Meo, Director at Foenix Partners.
The currency lost momentum Wednesday when UK wage growth slowed more than projected in June.
The material has been provided by InstaForex Company – www.instaforex.com