Pound Rises Against Dollar as Report Shows Insolvencies Declined
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The pound rose for the first time in three days against the dollar after an industry report showed the number of U.K. business insolvencies slid in September, boosting optimism the economic recovery is strengthening.
Government bonds fell, pushing 10-year yields toward the highest in a month. The U.K. exited a recession in the third quarter, with gross domestic product increasing 0.6 percent from the previous three months, data due for release on Oct. 25 will show, according to the median forecast of economists in a Bloomberg News survey. Retail sales rose more than analysts estimated in September, a report last week showed.