Pound Climbs a Second Week Versus Dollar as Data Beats Estimates
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The pound strengthened for a second week against the dollar as economic reports that exceeded analyst estimates boosted confidence that growth is accelerating.
Sterling climbed to an 11-week high versus the greenback as reports from U.K. business confidence to manufacturing, construction and services output beat forecasts. Benchmark 10-year gilts fell for a second week as demand for the safest assets waned and investors sought higher-yielding assets. The U.K. auctioned 50-year index-linked debt at a negative yield for the first time on April 30.