GBP is reaching higher levels. Overview for 08.02.2024

The British pound sterling, paired with the US dollar, is inclined to grow. The current GBPUSD exchange rate stands at 1.2628.

Now that the pressure from the US dollar has decreased, the pound has an opportunity for correction.

The UK published very few vital statistics this week. However, the house price report for January is worthy of attention: it shows that, according to the RICS observations, buyer inquiries were the highest over the last two years.

The index has risen to -18%, the highest since October 2022, although it was expected to reach -25%.

The UK housing market has been improving gradually since the beginning of the year, aided by the recent reduction in interest rates on some mortgage loans. The volume of real estate sales in 2024 will most likely remain relatively low compared to average levels. However, prospects have improved slightly.

These statistics can support the economy and the pound itself in the future.