Forex News: GBP/USD kicks up on RICS data showing sentiment in housing market in England and Wales improved for 2nd-straight month in June, but reaction looks short-lived as sales still fell to lowest level on record due to lack of available credit; pair at 1.9939 after touching 1.9947. Seasonally-adjusted net balance of surveyors reporting falling rather than rising prices was minus 88.0 percentage points in June, vs minus 92.2 percentage points in May; better than forecast in Dow Jones poll for minus 92.9. Completed sales for quarter fell to 15.3/surveyor vs 17.4 in May, lowest level since series began in 1978. Residential property sales have slumped and house prices have fallen as demand hit by tight mortgage market, concerns about economic outlook; higher food and fuel prices have squeezed people's finances. While BoE has cut rates 75 bps since December, banks have raised mortgage rates, reduced offers of housing loans
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