U.K. Pound Rises as House Prices Climb, Manufacturing Expands
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The pound reached its highest level against the euro in more than a week as a gauge of U.K. house prices unexpectedly rose and a report showed manufacturing expanded for a third month in July.
Sterling advanced against 15 of its 16 most-traded peers, also lifted by speculation that takeovers will result in foreigners buying pounds or British companies repatriating funds from overseas. U.K. government bonds fell as demand held up at a Portuguese debt auction, easing appetite for the safest assets and damping concern that euro-region nations will struggle to fund themselves.