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    UK housing data surprises to the upside

    This morning GBP is once again under pressure. GBPUSD is trading around 1.2950. Declines have intensified after the start of European session. Nevertheless, the data from the UK housing data surprised to the upside.

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    The Halifax house prices rose 1.3% m/m in June surpassing the market consensus calling for 0.3% m/m. Moreover, the previous reading was revised from 0.6% m/m to 0.9% m/m.  It’s another important indicator to follow to measure Brexit fallout as the UK housing market seems to be vulnerable now. The report was conducted before the referendum so for more reliable data we have to wait to August.

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

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