Pound Rises to 3-Week High Versus Euro as Jobless Claims Fall
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The pound strengthened to a three-week high against the euro after a government report showed U.K. jobless claims fell more last month than economists forecast.
Sterling advanced for a second day versus the 17-nation currency as a wider measure of unemployment declined in April, adding to evidence an economic recovery is under way. U.K. 30-year bonds rose for a second day after yields climbed to the highest since February yesterday. Gilts have led losses among the bonds of Group-of-Seven nations this year as government securities have tumbled amid speculation the Federal Reserve will taper its asset purchases.