Pound Is Little Changed Against Dollar Before Home Loans Data

27/12/2012 11:41 AST

The pound was little changed against the dollar and the euro before a report that economists forecast will show bank lending for U.K. home purchases increased in November.

Sterling climbed to the strongest level against the yen since April last year amid speculation the Bank of Japan (8301) will step up stimulus measures to support growth. The number of loans banks approved for house purchases rose to 34,500 last month from 33,039 in October, according to the median estimate of seven analysts in a Bloomberg News survey. The British Bankers Association will publish the data at 9:30 a.m. in London.

The pound was at $1.6141 as of 7:49 a.m. London time. Sterling was little changed at 82.06 pence per euro after depreciating to 82.09 pence yesterday, the weakest since April 25. The U.K. currency rose as much as 0.3 percent to 138.59 yen, the highest since April 12, 2011.

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