Halifax Bank in the UK have announced the largest drop in house prices for the last 15 years for last month. HBOS PLC reported a drop of 2.5% which is much greater than the predicted 0.4% fall expected by financial experts.

The quartely results showed little encouragement for the economy with prices falling by 1%. This is one of the largest house price falls since 1995.

It's not only the dollar/pound/euro that are struggling. Yesterday saw the Czech Crown reach a one month low as news spread that the government and central bank had done a deal which aims to curb the gains in currency. The deal includes freezing any privatisation income and not converting it from Euros, this also includes European subsidies.

The Czech Crown did appreciate by 8.5 between January and March and was the best performer against the Euro. The Crown was at 25.43 to the Euro. yesterday.

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