(Bloomberg) -- The pound logged a weekly drop against
the euro and the dollar on indications four interest-rate
increases in the past year are starting to cool Britain's
residential property market.
The U.K. currency also slid to near a week-low versus the
dollar after reports this week showed the number of loans granted
for house purchases fell in April and credit growth slowed. The
pound gained versus the euro in May, snapping a three-month losing
streak, amid data showing the economy maintained momentum in the
first quarter even after three interest-rate increases since
August by the Bank of England.
Read more at Bloomberg Currencies News
the euro and the dollar on indications four interest-rate
increases in the past year are starting to cool Britain's
residential property market.
The U.K. currency also slid to near a week-low versus the
dollar after reports this week showed the number of loans granted
for house purchases fell in April and credit growth slowed. The
pound gained versus the euro in May, snapping a three-month losing
streak, amid data showing the economy maintained momentum in the
first quarter even after three interest-rate increases since
August by the Bank of England.
Read more at Bloomberg Currencies News
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