Pound Strengthens as BOE Policy Makers Refrain From Stimulus

The pound strengthened versus the euro for the first time in six weeks as minutes from the Bank of England’s last meeting showed policy makers voted unanimously against expanding stimulus that tends to debase the currency.

Sterling advanced versus the dollar for a second week after government reports showed U.K. unemployment claims in June fell at their fastest pace in three years and retail sales rose for a second consecutive month, adding to evidence that the nation’s economic recovery is gaining traction. U.K. government bonds rose for a second week, with two-year gilt yields falling to the lowest level since May.