020 7898 0500A quiet day in the economic calendar yesterday meant data influencing the pound was limited to the British Bankers’ Association (BBA) Mortgage Approval figures. According to data published by the BBA, the number of monthly mortgage approvals dropped from 40,417 to 39,507 in November.
Despite falling by more than expected last month, the reduction in the number of approved home loans couldn’t prevent the pound from advancing against the US dollar, after it was revealed mortgage lending was up 9% on the year.
It was a different story closer to home as the pound slipped against a strengthening euro. It’s quiet on the data release front today as the New Year bank holiday approaches. The only pre-2018 activity left on the UK’s calendar is the weekly Commitments of Traders (COT) report. It’s business as usual from Tuesday onwards.
