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Pound rose to nine months high


Pound rose to 1.62 after the data for GDP came out today. The data shows that mortgage approvals increased the most in six years showing that economy is growing. Fears that federal government may possibly shut down also supported GBP to soar to new heights. U.K. Prime minister David Cameron came up with a plan of “Help to Buy” which will provide government-guaranteed mortgages to buyers with a deposit of as little as 5 percent of the value of the homes costing around 600000 pounds. Does that really mean that U.K. economy is growing or has been recovered?