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

Dubai – Bassam Rashed – The pound has fallen at lowest since September 5 The British economy and the US economy, the world's largest economy, included the testimony of Federal Reserve Governor Jerome Powell before Congress in Washington.

At 17:24 the British Pound (GBP) fell against the US Dollar by 0.39% to 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 that show that inflationary pressures remain stable at zero, according to the consumer price index, against 0.4% in May, below expectations 0.2%. Growth at 2.4% was virtually unchanged from the previous year's forecast of 2.6%, while annualized base numbers showed growth slowing to 1.9% year-on-year and year-on-year. 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 showed a 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% when of the previous annual reading for the month of February, contrary to expectations of 3.7%.

On the other hand, we followed the US economy, the world's largest economy, to reveal housing market data showing declining housing starts and building permits in the United States. United 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, fell to 2.2%, about 1,273 thousand permits, compared with a decrease of 4, 6% to about 1,301 thousand in May This was the second and last half of the Fed's testimony to Jerome Powell, governor of the Federal Reserve.