Pound Strengthens After UK Nationwide House Price Data

The Nationwide data showed that the house prices in the U.K. advanced 0.5 percent in January and was flat on a year-on-year basis. Analysts had expected the headline index to drop 0.3 percent on year, while the monthly index was expected to increase 0.2 percent.

The pound edged higher against most of its major rivals after the report. As of 2:05 am ET, the British currency was trading at 143.55 against the yen, 0.8573 against the euro, 1.4403 against the Swiss franc and 1.5807 against the dollar.

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