020 7898 0500The only release of note yesterday were the UK mortgage approvals for February which showed a decline of some 11% from the month before. They came in at 38,120 against an expectation of 39,200, from a revised 40,031 in January. However, they are up by 4.9% from the same time a year ago.
Sterling strengthened significantly against the dollar in what is proving to be a positive period for the pound amid dollar weakness. It did start the day by climbing higher against the euro, but by the end of the day they were more-or-less the same as they had been before trading commenced.
Today is extremely quiet for economic data with no releases scheduled, but tomorrow we will see the CBI distributive trades for March.
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