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Pound Rises Versus Dollar After Production Improves; Gilts Fall

The pound strengthened toward a six-week high against the dollar after U.K. industrial production increased in February more than economists forecast, boosting speculation the nation will avoid a triple-dip recession.

Sterling gained for the fourth time in five days versus the greenback after gauges of manufacturing and retail sales also improved. The pound has climbed 1.7 percent in the past month, trimming this year’s decline to 4.5 percent, the second-worst performer after the yen, according to Bloomberg Correlation-Weighted Indexes that track 10 developed-nation currencies. U.K. government bonds fell after an auction of 10-year securities attracted the lowest demand since June 2012.