News Column

Pound Climbs Against Franc, Euro After UK Nationwide House Prices

July 1, 2014



BRUSSELS (Alliance News) - The pound advanced against the Swiss franc and the euro ahead of European deals on Wednesday, after data showed that UK Nationwide house prices strengthened in June.

Data from Nationwide showed that the UK house prices rose by 1% on month in June, up from 0.5% expected by economists.

On year, house prices jumped to 11.8% in June from 11.1% last month. Economists were expecting an increase of 11.2%.

The pound strengthened to an 8-day high of 1.5230 against the franc and a new 2-week high of 0.7969 against the euro, compared to Tuesday's values of 1.5213 and 0.7970, respectively. On the upside, the pound may find resistance around 1.53 against the franc and 0.79 against the euro.



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Source: Alliance News


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