16 May 2005, 12:00 Sterling extended losses against the dollar
Sterling extended earlier losses against the buoyant dollar on Monday, falling below $1.84 for the first time since November following a weak UK housing survey.
Analysts said the pound was driven also by broad strength of the dollar, which hit a seven-month against the euro.
Property website Rightmove said asking prices on British homes rose a modest 0.3 percent between mid-April and mid-May, but the annual gain slumped sharply to 4.9 percent from 7.0 percent -- the lowest annual rate such figures were first available in 2002.
"The house price data shows a slowing market," a UK bank trader said.
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