Pound Rises Versus Dollar on U.S. Jobs-Growth Report; Gilts Gain
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The pound rose to a two-week high against the dollar as data showed U.S. employers added fewer workers in August than analysts forecast, damping bets the Federal Reserve will pare currency-debasing stimulus measures.
Sterling had weekly gains versus the greenback, euro and yen after the Bank of England yesterday kept its bond-buying program unchanged and left the main interest rate at a record low. Gilts climbed as Russian President Vladimir Putin said his nation will assist Syria if it’s attacked, spurring demand for the safest assets. A report today showed U.K. manufacturing increased for a second month in July.