The pound was modestly firmer against the dollar on Monday, following data from Rightmove showing UK house prices rose by a robust 1.5% in March. The 0.1% gain took sterling 0.8% above its level of a week ago, although it closed still down 0.3% on the month.

With the figures helping to cement expectations of higher UK interest rates within the next couple of months, the pound alos gained 0.2% against the euro. However, it remained down 1.6% on month ago levels.

Consequently, the euro slipped 0.1% against the dollar, although it ended the day still 1.3% up on the month.

The yen was the biggest loser of the day as a strong performance from Asian stockmarkets rekindled investors??™ appetite for risk, reversing some of the Japanese currency??™s recent appreciation in the process. Although the yen did initially spike higher following the Bank of China??™s decision to tighten monetary policy, but it subsequently eased as shares in Shanghai appeared to take the decision in their stride. By the close the yen was down 0.8% on the day against the dollar, but still up 1.4% on the month.

Similarly, the yen slumped fell 0.7% against the euro, extending its losses over the past five sessions to 0.9%.

The Swiss franc, the world??™s other major low-yielding currency, was also significantly lower, falling 0.5% against the dollar on the day. However, this still left it sitting on gains of 0.9% over the past week.