Pound Approaches 1-Month High Versus Euro Before Stress Tests
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The pound traded near the strongest level in almost a month against the euro before the publication of stress tests on European banks that may show lenders need to raise more capital than their U.K. counterparts.
Britain’s currency was little changed versus the dollar. Europe’s stress tests, which will reveal how much government support the finance industry needs to stay solvent, are due to be published from 5 p.m. London time. Ten-year gilts rose for a second day.