Posted by Zeb BhamThe fortunes of sterling in foreign exchange markets may be impacted by figures indicating that last month house prices in the UK increased.Data from Nationwide revealed that in October a rise of 0.4 per cent occurred, something that may improve the confidence of analysts as homes are now 0.8 per cent more expensive than the same month in 2010.Chief economist at the building society Robert Gardner, suggested that the findings were "encouraging" amid the current economic situation.However, he cautioned: "It doesn't fundamentally change the picture of a housing market that is treading water. Property transaction levels remain subdued and prices essentially flat compared to last year."Mr Gardner added that in the year ahead house prices are likely to remain little changed due to the "sluggish" outlook for the economy.Forex dealers may have been boosted by comments made recently by Vince Cable, the secretary of business and innovation.According to Reuters, the MP told ITV News that the UK is taking the right steps to avoid a recession.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site