Pound Received Support Yesterday from UK House Data

The recently released data from the UK house sales report gave the British pound some hopes in yesterday’s trading session. The data showed a 6.1% increase year on year in the month of August.

The sterling took advanced against the greenback yesterday. The GBP to USD trading pair lost 0.22% or 0.0027 points. The GBPUSD pair traded around $1.2123 and has hit levels between $1.2105 and $1.2172.

The single currency also lost against the pound in Monday’s sessions. The EUR to GBP pair inched up 0.33% or 0.0031 points. The EURGBP pair reached ranges of £0.9112 to £0.9170 in yesterday’s trading.

The GBPAUD pair lost 0.18% or 0.0033 points and has hit levels between AU$1.7861 and AU$1.7948 on Monday’s sessions.

The GBPCAD also entered negative territories yesterday; the pair lost 0.29% or 0.0046 points. The GBP to CAD pair traded around CA$1.6077 and has declined to ranges between CA$1.6042 to CA$1.6156.

As the much-awaited Brexit date approaches, pound traders are bracing themselves for a wild and volatile ride. As October 31 nears, every comment and news from British officials have a greater effect on the British currency.

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Despite the pound sterling’s win against the greenback, the US dollar index was seen inching up in yesterday’s trading session.

The US dollar index futures inched up 0.09% or 0.090 points on Monday as Treasury yields rebounded from recent lows.

The bounce-back somehow eased the tension and fears about a global recession and sparked hopes for major banks for new stimulus.

The greenback’s lost from the pound was unfortunate for USD traders, however, it gained against major currencies such as the euro and Canadian dollar.

The EURUSD pair inched up about 0.09% or 0.00010 points in sessions. The exchange pair reached ranges of $1.1087 to $1.1113 in Monday’s trading.

The CADUSD pair slightly moved up by 0.07% or 0.0006 points in yesterday’s trading. The pair hit levels between $0.7531 to $0.7547.