Pound Near Lowest in Month Versus Dollar on Growth Concern

The pound was near the lowest level against the dollar in almost four weeks as a quarterly gauge of business confidence weakened, stoking concern the economic recovery may be slowing.

Sterling also declined against the yen as a U.K. index of consumer finances stayed close to the lowest level in almost a year in August. The pound earlier rose as much as 0.6 percent versus the dollar on optimism that foreign bids for British companies will boost demand for the U.K. currency.