British pound with a slight change versus US dollar ahead of UK manufacturing data

On Tuesday the sterling was little changed against the US dollar before the release of Manufacturing Production report from United Kingdom.

It is expected British manufacturing to have shrunk during April by 0.2%, after it expanded by 1.1% during the previous month, according to a Bloomberg News survey. Another report will show the industrial production figures in UK.

GBP/USD pair traded at 1.5584 at 6:30 GMT on Tuesday, while currently it was trading at 1.5571. Pound climbed to 1.5684 on June 6th, the highest since February 13th.

Sterling has added 5.7% in the past three months, the best performer of 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes. US dollar has gained 0.7%, while the euro rose by 2.6%.

Earlier today an e-mailed report said that Royal Institution of Chartered Surveyors (RICS) House Price Balance rose to 5% in May, the fastest increase rate since the summer of 2010, as the indicator was at 1% level in April. It reflects the difference between the percentage of inquired people, who think house prices will rise and the percentage of those, who think the opposite way. A positive result means more respondents saw values increase rather than decrease. The inquiry results showed that it is expected house prices to rise by 1.4% during the next year, compared to 1.1% rise, stated in the previous inquiry.