Weakening British Housing Market Will Weigh on the Pound

The British pound has been into some sort of mini-recovery after the deep plunge it took following the Brexit vote last June. Sterling is approaching the $1.30 level for the first time since last September, when hopes were increasing that a "soft" Brexit, with the U.K. keeping access to the European Union's single market, would be possible.

But one piece of data out today suggests that the pound's mini-recovery is about to end. A closely watched monthly poll of property surveyors by the Royal Institution of Chartered Surveyors (RICS) showed that the housing market continued to weaken in April, with both sales and new buyer enquiries edging lower....614 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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