30.08.2016 - Data on lending disappointed investors in the UK
Today in the UK was published statistics on the number of approved mortgage loans, which decreased to 61 thousand in July against 64 thousand in the previous month. It is worth noting that the volume of loans granted to individuals in July totaled 3.8 billion vs. expected 4.9 billion and 5.1 billion previously. This trend points to a deterioration in the country's economy and in the future will be negatively displayed on the British pound. Our medium-term outlook for the British currency remains negative with potential targets at 1.2600 and 1.2200.