U.K. Pound Posts Biggest Weekly Advance Versus Euro Since 2011
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The pound rose for a third day against the euro, set for its biggest weekly gain in two years, amid bets the Bank of England will refrain from extending its stimulus program in contrast to its European counterpart.
Sterling appreciated versus all but one of its 16 major counterparts before U.K. reports next week that economists said will show producer prices rose in January and retail sales increased. Future Bank of England Governor Mark Carney said yesterday that current monetary policy may be enough to help the economy, while European Central Bank President Mario Draghi said the region’s policy may “remain accommodative.” U.K. government bonds were little changed.