BLBG:British Pound Falls Against Dollar as Report Shows House Prices Declined
The pound fell for a second day against the dollar as a report showed U.K. house prices declined in July for the first time this year.
Britain’s currency climbed to the strongest level in a month versus the euro on concern that the debt crisis in the 17- nation currency region is intensifying. U.K. home sellers lowered asking prices by 1.6 percent from June when they gained 0.56 percent, Rightmove Plc, the U.K.’s biggest property website, said today.
The pound traded declined 0.3 percent to $1.6089 as of 7:40 a.m. in London. It was 0.5 percent stronger at 87.25 pence per euro, the strongest since June 16.
Sterling has dropped 6.8 percent in the last 12 months against nine developed-market peers tracked by Bloomberg Correlation-Weighted Currency Indexes, the second biggest decline after the dollar.
To contact the reporters on this story: Keith Jenkins in London at Kjenkins3@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
