The pound sterling is depreciated to a 10-month low against the US dollar

The pound depreciated during the US session at its lowest since September 5 against the US dollar following developments and economic data followed on Wednesday by the British economy and its counterpart, the United States. American economy, world's largest economy, Jerome Powell at the Washington Congress.

At 17:24 the British Pound (GBP) fell against the US Dollar by 0.39% at 1.3064 compared to opening levels at 1.3115 after hitting a 10-month lows at 1.3010, trading session at 1.3120 .

We followed the British economy to reveal inflationary data, which show that inflationary pressures remained stable at zero according to the consumer price index, compared to 0.4% in May, below the inflation rate. expectations of 0.2% Growth at 2.4% remained virtually unchanged from expectations of 2.6% the previous year, while basic annualized figures showed growth slowing to 1.9% in year-on-year and 2.1% year-on-year.

The contribution of the PPI slowed to 0.2% from 3.3% in May, below expectations of 0.4%, while the annual reading of the index has showed accelerated growth to 10.0% from 9.6% to 10.1%, and coinciding with the annual reading of the housing price index, growth slowed to 3.0% from 3.5 % during the previous annual reading for the month of February, contrary to expectations of 3.7%.

On the other hand, we tracked the US economy, the world's largest economy, by disclosing data on the housing market, which indicated a decline in housing starts and building permits in the United States in June. At 1,173,000 homes, up from a 4.8 percent increase to about 1,337,000 in May, the worst estimate of a 2.2 percent decline to 1,320,000.

In the same context, the decline in building permits, according to the index figures last month, decreased to 2.2%, about 1,273 thousand permits, compared with a decrease of 4, 6% to about 1,301 thousand in May The second and last half of the Fed's mid-term testimony, Jerome Powell, of the fictional monetary policy before Congress, came in at 2.2%, or about 1,330 000.