(Bloomberg) -- The pound headed for a weekly drop
against the euro on indications four interest-rate increases in
the past year are starting to cool Britain's 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
against the euro on indications four interest-rate increases in
the past year are starting to cool Britain's 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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