GBP/JPY Falls as HPI Drops

December 30, 2011 11:44 AM | 0 Comments
The Great Britain pound fell today against the Japanese yen to the lowest level in a month as UK house prices declined in December, reinforcing fears of the economic crisis in Britain. The currency rose slightly versus the US dollar.

The Great Britain pound fell today against the Japanese yen to the lowest level in a month as UK house prices declined in December, reinforcing fears of the economic crisis in Britain. The currency rose slightly versus the US dollar.

The Nationwide House Price Index fell 0.2 percent this month, following the 0.4 percent increase in the month before. Housing equity withdrawals (change in the total value of new home-secured loans that are not used for home purchases or improvements) was -£8.6 in the third quarter, compared to -£9.6 in the previous quarter. The sterling attempted to rally against the yen, but failed and resumed its downfall.

GBP/JPY fell from 119.66 to 119.38 as of 10:59 GMT today after reaching 119.40 — the lowest level since November 25. GBP/USD climbed from 1.5413 to 1.5436.

Source: www.topforexnews.com

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