Pound Gains Versus Euro as Officials Fail to Agree on Greek Loan
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The pound advanced versus the euro after European governments failed to agree on releasing a loan payment to Greece, making sterling-denominated assets more attractive.
The yield on 10-year U.K. government bonds earlier slipped to the lowest in seven months as investors sought the relative safety of government debt. Britain’s benchmark FTSE 100 Index of equities dropped 0.5 percent and the Stoxx Europe 600 declined 0.7 percent. European Financial Stability Facility chief Klaus Regling said the effective capacity of the euro-area bailout fund will be raised.