Pound Advances for Fourth Day Versus Dollar After BOE Minutes
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The pound rose for a fourth day against the dollar as minutes showed Bank of England policy makers voted 8-1 to pause a bond-buying program as risks from the euro-area crisis ease and inflation concerns persist.
Sterling climbed to a three-month high versus the U.S. currency as the minutes of the Dec. 5-6 meeting showed David Miles dissented and sought to increase the asset-purchase target by 25 billion pounds ($40.7 billion). All nine members of the Monetary Policy Committee voted to keep the benchmark interest rate at a record low of 0.5 percent. U.K. government bonds fell for a ninth day, the longest losing run since February 2011.