Pound Gains Most in Seven Months on Qatar Report, Budget Outlook
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The pound rose the most in seven months versus the dollar on speculation Qatar will invest in infrastructure projects, boosting demand for sterling amid calls for growth-based policies in the government’s annual budget.
The so-called 10-year break-even rate, which predicts the annual rate of inflation over the next decade, climbed to the highest in 4 1/2 years. Sterling rose for a third day against the euro and advanced against all but two of its 16 major peers. U.K. and Qatari officials and ministers have held talks on potential projects, the Financial Times reported today without saying where it got the information.