Pound Rises to 6-Week High After Deficit Narrows; Gilts Decline
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The pound strengthened to a six-week high against the dollar after a government report showed the nation’s budget deficit narrowed in September more than economists forecast.
Sterling appreciated for a third day versus the dollar and the yen as U.K stocks were boosted by optimism European policy makers are moving closer to agreement on a plan to help contain the region’s debt crisis. U.K. government bonds fell.