Pound Is Little Changed Versus Dollar as U.K. House Prices Slide
Sterling snapped a four-day drop versus the euro. House values fell 3.3 percent, Rightmove Plc said in a report. Data tomorrow will show consumer prices rose 2.7 percent last month from a year earlier, matching the October reading, according to the median prediction of 34 economists in a Bloomberg survey.
The pound traded at $1.6191 at 7:47 a.m. London time, after rising to $1.62, the strongest since Oct. 5. Sterling appreciated 0.1 percent to 81.29 pence per euro.
The pound has gained 1.5 percent this year, according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-market currencies. The euro declined 1.3 percent and the dollar fell 3 percent.
U.K. gilts handed investors a loss of 1 percent this month through Dec. 14, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies. German bonds gained 0.4 percent and Treasuries declined 0.3 percent.
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