{"id":72639,"date":"2021-06-02T09:36:22","date_gmt":"2021-06-02T09:36:22","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72639"},"modified":"2021-06-02T09:36:25","modified_gmt":"2021-06-02T09:36:25","slug":"pound-retreats-after-hitting-three-year-high","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/pound-retreats-after-hitting-three-year-high\/","title":{"rendered":"The pound retreats after hitting three-year high amid variant concerns"},"content":{"rendered":"\n

The pound retreated this morning after reaching a fresh three-year high versus the dollar amid economic recovery hopes.<\/p>\n\n\n\n

Well into the London session after the bank holiday weekend, sterling reversed its course to fall 0.2 per cent to $1.4183.<\/p>\n\n\n\n

The pound edged lower as concerns over a new coronavirus strain outweighed increasing investor optimism on the UK\u2019s economic recovery.<\/p>\n\n\n\n

Three-year high<\/strong><\/p>\n\n\n\n

Sterling touched its highest level since April 2018 of $1.4250 during the Asian session against the dollar.<\/p>\n\n\n\n

Analysts attributed the rise to positive global investor sentiment towards Britain\u2019s economic recovery.<\/p>\n\n\n\n

\u201cOverseas investor sentiment generally is positive towards sterling given the vaccine roll-out and the reopening of the domestic economy,\u201d said Neil Jones, head of FX Sales at Mizuho Bank.<\/p>\n\n\n\n

To find out more about how we can assist you with your Second Charge Mortgage please click here<\/a><\/em><\/p>\n\n\n\n

\u201cThe stage is set for the pound to push higher I would suggest.\u201d<\/p>\n\n\n\n

Optimism remains high<\/strong><\/p>\n\n\n\n

UK house prices jumped by an annual 10.9 per cent in May, the most in nearly seven years, mortgage lender Nationwide revealed this morning.<\/p>\n\n\n\n

Jones said that the house price data, which surprised in the upside, helped to keep optimism around the British currency.<\/p>\n\n\n\n

Economic indicators including retail sales and employment measures are also looking up, as well as a deluge of new orders driving a record increase in British manufacturing last month.<\/p>\n\n\n\n

Sterling also found support from Bank of England policymaker Gertjan Vlieghe last week, who said the central bank was likely to raise rates only well into next year.<\/p>\n\n\n\n

By Damian Shepherd<\/em><\/p>\n\n\n\n

Source: City AM<\/a><\/p>\n\n\n\n

Discover our Second Charge Mortgage Broker<\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The pound retreated this morning after reaching a fresh three-year high versus the dollar amid economic recovery hopes. Well into the London session after the bank holiday weekend, sterling reversed its course to fall 0.2 per cent to $1.4183. 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