I pound this morning softer ground, the most obvious is the pair EUR / GBP, where the recent good performance is now hampered by some correction. There are several factors that influenced the situation. First, the sharp decline in the price index for real estate Rightmove, where there was the fall in the annual growth rate from 2.9% to 1.3%. Factors that make home prices have never been in the spotlight, but now they are influenced by the weakening market. In addition, the downward revision of data on construction after the second quarter increased the likelihood of downward revision of GDP data for the second quarter and possibly the third. The construction accounts for about a fifth of economic growth, thus, the combination of these factors suggests a more sluggish pace of growth in the future. Sterling is ready for changing the situation by the end of the year against the backdrop of fast changing expectations for QE.
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