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```htmlGolden Ten Data reported on July 1 that the Nationwide Building Society stated that although mortgage costs have eased, UK house prices failed to achieve growth for the second consecutive month in June. The institution released data on Wednesday showing that the average house price in June remained flat at £277,484 (approximately $367,460), after falling by 0.6% in May. This performance was slightly below economists' expectations of a 0.1% increase. The Middle East conflict has shaken the mortgage market, ending the strong growth in house prices seen earlier this year. Previously, the market expected the Bank of England to raise interest rates to curb inflation, which drove up borrowing costs. Although mortgage interest rates remain higher than before the outbreak of war, the cost for homebuyers has retreated from the April peak. As investors anticipate that the US-Iran ceasefire agreement will be maintained, bets on the Bank of England raising rates have weakened, and mortgage interest rates may fall further in the coming months.```

The EMEA macro strategist stated that the recent catalyst is this week’s U.S. labor market data. He said, “A resilient employment report will reinforce the current environment of anchored inflation expectations, thus supporting U.S. real yields, demand for U.S. Treasuries, and, in turn, the U.S. dollar.” The U.S. nonfarm payroll data is scheduled to be released on Thursday.

According to Golden Ten Data on July 1, citing foreign media reports, four interviewed traders stated that the Reserve Bank of India may have intervened in the foreign exchange market on Wednesday to support the rupee. This intervention followed Iran's announcement that it would not meet with the US envoy, which caused Asian currencies to weaken and subsequently dragged down the rupee. The traders indicated they had observed Indian state-owned banks selling US dollars, most likely acting on behalf of the Reserve Bank of India.