British Pound Weakens Versus Euro as Construction Growth Slows

The pound snapped a two-day gain against the euro after a report showed U.K. construction growth slowed more than forecast in October.

The British currency remained near the highest level in nine months against the dollar before policymakers from the U.S. Federal Reserve and the Bank of England meet to decide on interest rates and debt-buying measures this week. Ten-year gilts climbed after the construction report, even as the FTSE 100 Index of shares jumped 0.8 percent.