Pound Advances Versus Euro as U.K. Economic Sentiment Improves
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The pound strengthened against the euro after a U.K. business lobby said company sentiment has improved, increasing speculation the economy will outperform that of the single-currency region.
Sterling rose versus 11 of its 16 major counterparts as the Confederation of British Industry maintained its forecast for growth to quicken over the next two years. A U.K. industry report last week showed the economy expanded in the three months through April, while analysts predict data tomorrow will show euro-area gross domestic product shrank in the first quarter. U.K. government bonds were little changed before the Debt Management Office sells five-year securities tomorrow.