Market Overview

GBP/USD Moves Down, RICS House Price Balance Falls


GBP/USD is trading at 1.2950, down 0.0067.

The pair is trading choppy and a little above the session lows

Market talk about the U.K. economy, money flows and headline news is making the rounds.

The Royal Institution of Chartered Surveyors ( RICS) house price balance survey showed U.K. house price increases were less widespread during the three months to the end of July. The RICS house price balance for the three months through July fell to a net 5 percent versus 15 percent during the April through June time frame. The survey result was the lowest level since the 3 percent level in April 2013. The group said London house prices appear to be declining. The May-July London house price balance was minus 33 percent, which RICS said was compatible with price declines.


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