The English pound dove to its three-week low on Thursday against the world's reserve currency after the release of weaker than expected regional housing data, according to Bloomberg.
Preoccupations are growing about the economic recovery as the pound slumped for the first time in three days. The Debt Management Office is set to conduct an auction of 2 billion pounds of notes set for maturity in 30 years. The most recent time the office conducted a sale of debt in that denomination was the end of November of last year.
During the past 180 days, the pound has surged about 7.8 percent against the U.S. dollar, which distinguishes it as the most robust of 10 developed-nation monetary units monitored by the news source.
The English pound fell roughly 0.2 percent against the greenback, falling to its lowest value against its cross-Atlantic rival since the end of December 2013. The pound also dropped about 0.3 percent against the common currency of the European Union.
Governor Mark Carney with the Bank of England said the regional housing market is going to continue growing through the middle of 2015, according to Reuters.
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