U.K. Mortgage Approvals Rise For Second Month in March, Consumer Credit Holds Steady

Mortgage approvals in the U.K. rose for a second consecutive month in March as a result of the extraordinary efforts taken on by policymakers, with the index rising to 39K from 38K in the previous month. In addition, net lending for home purchases increased another 0.8B during the same period, following the 1.4B rise in February.


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[B]GBPUSD[/B] – Mortgage approvals in the U.K. rose for a second consecutive month in March as a result of the extraordinary efforts taken on by policymakers, with the index rising to 39K from 38K in the previous month. In addition, net lending for home purchases increased another 0.8B during the same period, following the 1.4B rise in February, while net consumer credit held steady at 0.1B in March. Meanwhile, a separate report showed manufacturing activity in the U.K. fell at a slower pace in April as the PMI increased more than expected to 42.9 a revised reading of 39.5 in previous month, which is the highest level since last August. Discuss the topic and your trade ideas in the GBP/USD Forum.