The Great Britain pound rose today against the US dollar and the Japanese yen after the report showed an increasing number of mortgage approvals last month. The sterling remained weak versus the euro due to optimism about a bailout for Greece.
The number of mortgage approvals increased from 31,544 in September to 33,039 in October. Analysts have expected an increase to about 32,300. The better-than-expected data sparked hopes that the United Kingdom is on track to recovery.
Traders were also hopeful about Greece, weakening the UK currency against the euro. The pound is often considered a haven from Europe’s troubles and positive outlook for the future of the eurozone diminishes demand for the safety of the currency.
GBP/USD rose from 1.5932 to 1.6029 and GBP/JPY ticked up from 131.36 to 132.06 as of 20:02 GMT today. EUR/GBP advanced from 0.8081 to 0.8088.
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