British Pound expanded positions against US dollar on strong housing price data

British pound gained ground versus US dollar during Monday trading session, after official report stated that real estate sellers in United Kingdom increased asking prices during May for fifth month in a row. House price index rose by 2.1% during May, compared to previous month to an average 249 841 British pounds or about 380 000 US dollars. Annually, the Rightmove House Price Index added 2.5% to its value during May, while it changed upwards by 0.4% during the preceding period.

The pound increased value to 1.5210 during early European session, after marking a drop to 1.5158 on May 17th.

GBP/USD cross registered a decline by 2.3% this year, which was the second worst performer after the Japanese yen in accordance with Bloomberg Correlation-Weighted Indexes. These indexes gauge the currency performance of 10 developed countries. It was reported that the US dollar expanded its influence by 5.3%, while the euro increased its value by 2.2%.