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Today the British Bankers' Association reported U.K. mortgage approvals rose more-than-expected last month. Approvals rose by 36,400 beating expectations of 36,200. In December 35,700 approvals were reported. The index reflects the number of issued mortgage credit permits. It is the leading indicator of the residential real estate market demand.
Fuelled by the better-than-expected data and Yellen's testimony before the Senate Banking Committee stating that it's unlikely that the Fed will raise its interest rate in "the next couple of FOMC meetings"cable rose to a two-month high against the greenback.
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