Pound Gains Versus Dollar on Speculation U.K. Growth Expanded
This article is for subscribers only.
The pound rose for a fourth day against the dollar before data due next week, which economists said will show U.K. gross domestic product rose at a faster pace in the second quarter.
Sterling has gained versus most of its 16 major peers since minutes of the Bank of England’s latest meeting showed policy makers voted unanimously against expanding stimulus in favor of a strategy including forward guidance on interest rates. The economy grew 0.6 percent in the three months to June, compared with a 0.3 percent expansion in the previous quarter, according to the median of 36 estimates in a Bloomberg News survey. The figures will be released on July 25. Gilts fell.