Forex News:US House Prices decline less than expected: Rumor of tighter BOE policy support GBP

Greg Michalowski — Thu, 22 May 2008 10:12:06 -0400

The US House Prices fell by 0.2% for the quarter which was less than expectations. This gave the US dollar a boost. Also, there is a rumor of a report from a private service that the BOE would consider a rate rise at the next meeting to stave off inflationary pressures. This is supporting the GBP and GBPJPY in particular.