BAE, EADS to Form U.S. Defense Unit, Sunday Times Says
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The pound advanced for a seventh week against the dollar on speculation the U.K. economy is poised to recover from recession while the Federal Reserve expands monetary easing.
Sterling rose to the highest level in more than a year against the greenback and has advanced 0.7 percent since the Fed said Sept. 13 it would buy $40 billion of mortgage bonds a month to cap borrowing costs. The pound strengthened against the euro for the first time in six weeks as investors sought U.K. assets as a haven amid speculation Spain will delay seeking aid that could help sooth turmoil in euro-region sovereign debt markets. Ten-year gilts advanced, snapping a two-week drop.