(Bloomberg) -- The pound dropped against the euro
after an industry survey showed house prices in the U.K. rose at
the slowest pace since January 2006 last month, a sign higher
interest rates may be starting to cool the property-market boom.
The pound fell against 14 of the 16 most-traded currencies,
as investors reduced bets the Bank of England will raise rates to
6.25 percent this year. The U.K. currency also retreated from a
26-year high against the dollar as a technical indicator used by
traders to judge whether it's risen or fallen too far suggested
buying for this week had run its course.
Read more at Bloomberg Currencies News
after an industry survey showed house prices in the U.K. rose at
the slowest pace since January 2006 last month, a sign higher
interest rates may be starting to cool the property-market boom.
The pound fell against 14 of the 16 most-traded currencies,
as investors reduced bets the Bank of England will raise rates to
6.25 percent this year. The U.K. currency also retreated from a
26-year high against the dollar as a technical indicator used by
traders to judge whether it's risen or fallen too far suggested
buying for this week had run its course.
Read more at Bloomberg Currencies News
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