Pound Little Changed Versus Dollar as House Prices Rise in June

The pound was little changed versus the dollar and euro as an industry report showed U.K. home sellers raised asking prices for a sixth month in June.

Sterling climbed to a four-month high versus the U.S. currency last week. Prices sought rose 1.2 percent in June to an average 252,798 pounds ($396,800), property-website operator Rightmove said. Prices are up 2.7 percent from a year earlier, the report shows.

The pound traded at $1.5696 as of 7:26 a.m. London time after climbing to $1.5738 on June 13, the highest since Feb. 11. Sterling was at 84.94 pence per euro.

The U.K. currency has gained 4.2 percent in the past three months, the best performer in the Bloomberg Correlation-Weighted Indexes, which track 10 developed-market currencies. The dollar fell 0.1 percent and the euro appreciated 2.1 percent.

Gilts handed investors a loss of 1.3 percent this year through June 14, according to Bloomberg World Bond Indexes. German bonds dropped 0.7 percent and Treasuries declined 1 percent, the indexes show.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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