Pound Strengthens Versus Majority of Peers on Inflation, Greece
This article is for subscribers only.
The pound strengthened versus most of its major counterparts after a U.K. report showed inflation accelerated in October more than analysts forecast and amid concern the Greek debt crisis is worsening.
Sterling gained the most against Brazil’s real and South Africa’s rand as a gauge of British house prices showed the best result in two years, adding to signs the economy is recovering. European finance ministers meeting yesterday left unanswered how they will fill a shortfall in Greece’s balance sheet. Gilts were little changed before the Bank of England publishes its latest growth and inflation projections tomorrow.