GBP is decreasing against the US dollar and the Yen

Today the GBP gained against the Euro due to the announcement of the British Chambers about the British economy at this current year and for the next, during the announcement the GBP fell but it slowly raising up again. On the other hand the GBP is decreasing against the US dollar and the Yen.

The British Chambers said that Britain’s economy seems more stable compeering other European countries for the simple reason that Britain doesn’t have any debts issues. The results have given the BCC (British Chambers of Commerce) to raise the expectation for the United Kingdom GDP during this year to 1.7%. What also helped the GBP to rise was the actual decreasing of the EUR.

What makes Britain’s worried is the fact that during August the UK house price went down by 0.3% and the following month of July it went down again by 0.1%…………so the actual gain of the GBP is expected to be limited and what concerns the UK is the actual weakness of the GBP against other currencies such as the USD and the Yen.

Here are the quotes that been signed this morning:

EUR/GBP dropped out from 0.8215 to 0.8193 today at 16:24 GMT, continued to drop to 0.8161.

GBP/USD dropped from 1.5530 to 1.5468 which earlier it went up to 1.5575.

GBP/JPY dropped to 130.93 from the beginning rate of 132.56. The Yen actual quote reached the highest 133.60, right before dropped……