Pound Rises From Two-Week Low Versus Euro on Debt-Crisis Outlook
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The pound strengthened from a two-week low against the euro amid speculation this week’s declines were excessive given the U.K. has a better economic outlook than the single-currency region.
Sterling advanced for the first time in six days versus the 17-nation euro before European finance ministers meet next week to seek agreement on how to cut Greece’s debt levels. A report yesterday showed the euro-area economy sank into recession for the second time in four years. U.K. gilts were little changed.