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Jul 14 - 07:55 AM

GBP/USD - A Shock May Be Coming To Shake Sterling's Foundations

By Jeremy Boulton  —  Jul 14 - 05:45 AM
  • UK house price growth falls to lowest since March 2021 nS8N2Y3016

  • UK interest rates are seen rising towards 3% this year (currently 1.25%)

  • Should rates rise to 3% house prices will likely fall

  • Given how extended UK housing market has become prices could drop far

  • If prices drop, equity drops impacting consumer spending habits

  • Recent buyers may have negative equity this time next year

  • The economy and pound will be undermined by any downturn

Source:
Refinitiv IFR Research/Market Commentary

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