Pound Strengthens on U.K. House-Price Data, Pares Weekly Decline
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The pound strengthened, snapping a three-day drop against the euro, after an industry report showed U.K. house prices increased for a 10th month in November.
Sterling gained versus most of its 16 major counterparts. The pound still headed for its biggest weekly drop against the 17-nation currency since October after the Bank of England kept monetary policy unchanged yesterday, while the European Central Bank gave no indication it will introduce further stimulus. U.K. government bonds were little changed even as the central bank said expectations of an interest-rate increase in the coming year rose in the three months through November.