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March 5, 2021 - Written by Frank Davies Pound (GBP) Exchange Rates Slip Thanks to Disappointing UK House Price Growth As the Halifax house price index failed to show positive growth on the month this left the Pound to US Dollar (GBP/USD) exchange rate trending lower. Following on from January’s -0.4% contraction the index dipped another -0.1% last month, suggesting a sustained decline in the housing market. As the UK housing market had previously helped to limit the impact of Covid-19 disruption on the economy this weakness weighed heavily on demand for the Pound on Friday. The relative strength GBP exchange rates had experienced over the course of the week also left the Pound vulnerable to correction selling, with the currency having gained significant ground on hopes of a nearer economic recovery.

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