Pound Gains Most in 2 Weeks Versus Dollar on Bets BOE to Hold QE
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The pound rose the most in almost two weeks against the dollar amid speculation that the Bank of England will refrain from increasing its monetary stimulus at the end of a two-day policy meeting tomorrow.
Sterling advanced against most of its 16 most major peers after Lloyds Banking Group Plc’s Halifax unit said that house prices rose in April more than economists predicted. The central bank’s Monetary Policy Committee will keep the target for its program of bond purchases known as quantitative easing at 375 billion pounds ($584 billion), according to all but one of 44 economists surveyed by Bloomberg. Gilts rose as the U.K. sold 30-year inflation-linked securities at a record-low yield.