Pound Has Weekly Advance Versus Euro on Lower German GDP Outlook

The pound held a two-day advance against the euro, touching the strongest level in two weeks, after the Bundesbank cut its forecast for economic expansion in Germany, damping demand for the 17-nation shared currency.

Sterling declined versus the dollar as a report showed U.S. employers added more jobs in November than economists forecast. The pound was set for its biggest weekly gain in six against the euro after three officials with knowledge the European Central Bank’s deliberations said a majority of policy makers were open to cutting the benchmark interest rate. Chancellor of the Exchequer George Osborne this week revised down the British government’s economic growth forecasts.