Forexpros – Mortgage approvals in the U.K. declined unexpectedly in May, falling to the lowest level since April 2011, industry data showed on Wednesday.
In a report, the British Banker’s Association said that the number of new mortgages approved in May fell to 30.2K from 32.1K in April, whose figure was revised down from 32.4K.
Analysts had expected mortgage approvals to rise to 32.8K in May.
Following the release of that data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.16% to trade at 1.5617.
Meanwhile, European stock markets were mixed to lower. London’s FTSE 100 dipped 0.15%, the EURO STOXX 50 declined 0.1%, France’s CAC 40 slipped 0.1%, while Germany’s DAX eased up 0.1%.
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