The brittish pound has slided to a two-week low versus US dollar with investors diminishing their United Kingdom currency portfolios in expectation of the inflation report by Bank of England, to be released tomorrow. This over 2% fall of the sterling comes after the GBP/USD May 1 high 1.5606.
Bloomberg reported, that Bank of England Governor, Mervyn King, will appear in role after the central bank announced its quarterly report in London on Wednesday. The media also added, that the brittish pound may seem vulnerable to a dovish inflation report after the gains versus the euro, which were influenced by diminished expectations for asset purchases, a statement made by a group of Credit Suisse strategists.
It was also reported that the sterling gained 2% in the last month, following the canadian and the US dollars, which are tracked by Bloomberg Correlation-Weighted Indexes.
Meanwhile, the Royal Institution of Chartered Surveyors announced, that its home price index for UK increased to 1 during the last month, which means that more respondents expect the prices to rise, rather than fall. Bloomberg noted, that prices of brittish homes climbed to their highest value since June 2010.
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