Sterling exchange rates improving

After a pretty slow start yesterday the Pound gained ground against virtually all currencies yesterday, mainly after the US markets opened just after lunchtime here in the UK.

Some of this momentum may have been as a result of the Halifax house price data release which announced that house prices rose 1.2% in October. They did suggest that this growth was unlikely to be sustained as more and more people seem selling to put their houses on the market increasing the demand for each property and as a result the asking price.

With numerous pieces of economic data about house prices in the UK coming out every month from institutions including the Royal Institute of Chartered Surveyors and Nationwide all with slight variants as to how they measure their data one in isolation can at times be taken with a pinch of salt. However over a period should we see consistent positive results we would expect to see some significant Sterling strength on the back of it with opportunities to purchase currency at rates well above where we see them now.