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Pound Strengthens Against The Dollar After House Prices Unexpectedly Rise

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http://www.bloomberg.com/news/2011-03-31/pound-advances-versus-dollar-u-k-house-prices-unexpectedly-gain-in-march.html

Pound Strengthens Against the Dollar After House Prices Unexpectedly Rise
By Lucy Meakin - Mar 31, 2011 7:43 AM GMT+0100
The pound strengthened against the dollar as a report showed house prices in the U.K. unexpectedly increased in March.
Britain’s currency was little changed versus the euro. The average cost of a home increased 0.5 percent from February to 164,751 pounds ($264,900), Nationwide Building Society said today. Economists predicted no change in prices, according to a Bloomberg News survey. GfK NOP Ltd.’s March index of sentiment stayed near the lowest since 2009 at minus 28 last month, a separate report showed.
The pound rose 0.2 percent to $1.6103 as of 7:42 a.m. in London. Sterling traded at 87.89 pence per euro, from 87.90 pence yesterday in New York. It was little changed at 133.14 yen from 133.22.

£ rises on propaganda from an EA-Vi? Shows you how fragile the foundation of our nation's economy is. Hometrack report ignored internationally sad to say.

It is ALL about house prices--they move FOREX more than any other fundamental. Good news on house prices and the spike is almost vertical.

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One might have happened after other, but there's no evidence of causation.

It's like reading news reports trying to explain share price movements - look at the Nick Fletcher's market watch section on the Guardian website for prime examples.

I'm never sure if you are being sarcastic, but do you genuinely believe that the UK economy actually is dependent on the housing market?

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"The pound strengthened against the dollar as a report showed house prices in the U.K. unexpectedly increased in March.

Britain’s currency was little changed versus the euro. "

Translates to: In the battle of the Ponzi Anglo Saxon economies Chav island takes the lead over thw worlds #1 bully. Meanwhile in the world where property values are the result of wealth creation, not the driver of wealth creation UK house prices are irrelevant.

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I think that the forex market also shows the true value of the hometrack report - Nil.

I thought the same.

What it does prove is that FOREX is driven by house price data as far as this country is concerned. NO other news causes the tradfers to whip themselves into a rabid frenzy as a sharp spike in house values. I could imagine the scene when the NW data came out--beserk fingers bashing away at the keyboards as traders shouted BUY BUY BUY until they voices failed them. They know a full blown crash will wreck the service driven economy (is wrecking).

We and OZ are the loast ones standing that had destructive HPI. Although the VIs don't admit it I am certain we are down 20% from peak whereas OZ still seems to be "enjoying" overpriced houses.

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Did they forget to check the volumes? Numbers of house sales in Feb were pitiful.

Weren't they!

Here 11 houses sold (Feb '11), which is the same as Jan '10! Pitiful indeed.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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