March 2, 2021 - Written by Frank Davies
Pound (GBP) Exchange Rates Supported by Surprise UK Housing Price Index Uptick
A stronger-than-expected month for the Nationwide housing prices index was not enough to keep the Pound to Australian Dollar exchange rate from trending lower.
While prices defied forecasts of a fresh contraction to instead rebound 0.7% on the month this failed to offer the Pound any real boost against its rivals.
Although this stronger showing suggests that the UK housing market held up last month, potentially benefitting from a surge in activity ahead of the end of the stamp duty holiday, the mood towards the Pound remained muted.