Sterling slips after mixed U.K. data

Sterling slips after mixed U.K. data

29 October 2015, 12:46
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The British currency edged lower Thursday after a batch of mixed data from the United Kingdom.

GBP/USD last traded at 1.5259, down 0.04% while EUR/GBP jumped 0.41% to 0.7187.

In a report, Confederation of British Industry said that CBI realized trades fell to 19, from 49 in the preceding month. Analysts had expected CBI realized trades to fall to 35 last month.

Separate data signaled that houses prices in the U.K. are rising.

Nationwide has reported that prices rose by 0.6% this month, pushing the annual house price inflation up to 3.9%.

Meanwhile, net lending to individuals and households in the U.K. rose more than expected in September, reflecting stronger demand for credit.

The Bank of England said in a report that total net lending to individuals increased by ₤4.9 billion last month, beating forecasts for ₤4.4 billion and up from ₤4.7 billion in August.

Net secured lending rose by ₤3.6 billion in September, above expectations for an increase of ₤3.5 billion, after rising by ₤3.4 billion a month earlier.

Net consumer credit, including personal loans, overdrafts, and credit card lending, increased by ₤1.261 billion, compared to forecasts for ₤1.1 billion and compared to ₤1.263 billion in August.

Meanwhile, the M4 Money Supply dipped by a seasonally adjusted 1.0% in September, below estimates for a decline of 0.2% and following a drop of 0.5% in August. The report also showed that the number of final mortgage approvals fell to 68,870 last month from 70,660 in August. Economists had expected mortgage approvals to rise to 72,450 in September.

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