BLBG:Pound Little Changed Versus Dollar as House Prices Rise
The pound was little changed against the dollar after a report showed U.K. house prices rose for the first time in three months in January.
Sterling snapped a three-day decline versus the euro after Rightmove Plc said asking prices advanced 0.2 percent this month after falling 3.3 percent in December. The U.K. Debt Management Office is scheduled to sell 1.75 billion pounds ($2.8 billion) of 4 percent gilts due 2022 tomorrow.
The pound traded at $1.5887 as of 8:10 a.m. London time, after dropping to $1.5838, the lowest since Nov. 16. Sterling was at 83.87 pence per euro, after falling to 84.07 pence, the weakest since March 13.
The pound weakened 2.1 percent this year, the second-worst performance after the yen according to Bloomberg Correlation- Weighted Indexes which track 10 developed-market currencies. The euro advanced 1.5 percent and the dollar rose 0.4 percent.
Gilts handed investors a loss of 1.4 percent this month through Jan. 18, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies. German bonds dropped 1.1 percent and Treasuries fell 0.3 percent.
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net.
To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net.
