Economics
Pound Rises to Three-Month High Versus Euro on Surge in Services
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The pound strengthened to the highest in more than three months against the euro as a report showed U.K. services expanded at the fastest pace since 2006, boosting demand for Britain’s currency.
Sterling climbed for a third day against the dollar after Markit Economics and the Chartered Institute of Purchasing and Supply said their U.K. services index, based on a survey of purchasing managers, rose to 60.5 last month from 60.2 in July as a gauge of new business rose to the highest in more than 16 years. U.K. government bonds were little changed as Bank of England policy makers began a two-day meeting today.