Sterling sold off ahead of he Bank of England?s widely expected decision to hold benchmark rates at 5.75 percent. However, the currency later saw a boost with the help of UK housing prices, which showed some resilience as the figure rose at the fastest pace in three months.
[B][U]UK Fundamentals:[/U][/B]
[B][I]Next 24 Hours:[/I][/B]
[B]Official Reserve (Changes) (JUL)[/B]
Survey: n/a
Prior: -$60M
[B]PMI Services[/B]
Survey: 57.5
Prior: 57.7
[B][I]Last 24 Hours:[/I][/B]
[B]HBOS House Price 3mnths/Year (JUL)[/B]
Actual: 11.2%
Prior: 10.7%
[B]HBOS Plc house prices sa (MoM) (JUL)[/B]
Actual: 0.7%
Prior: 0.4%
[B]Bank of England Monetary Policy Announces Rates[/B]
Actual: 5.75%
Prior: 5.75%
[B]PMI Construction (JUL)
[/B]Actual: 61.8
Prior: 61.1
See Daily FX Weekly Calendar for further insight