The pound has moved higher after comments from Bank of England governor Mark Carney on interest rates.
Against the dollar, sterling has moved from a day’s low of $1.5449 to $1.5604 after Carney told a Treasury select committee that the point at which rates would begin to rise was moving closer. However he did say the rises would be gradual and limited, and the Bank would watch the reaction from households very carefully.
Even so, the comments have hit housebuilding shares, which are clearly sensitive to the prospect of higher mortgage rates.
Taylor Wimpey is down 6.2p at 185.7p, Barratt Developments has lost 18p to 623.5p and Persimmon is 49p lower at £19.65.
Last week the sector suffered when chancellor George Osborne cut tax relief on buy-to-let mortages for higher rate taxpayers, but recovered some ground when the government unveiled plans later in the week to ease planning restrictions.
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