Pound Strengthens as Carney Reported Saying No Need for More QE
This article is for subscribers only.
The pound rose toward an eight-month high against the dollar after Bank of England Governor Mark Carney told a U.K. newspaper he saw no case for further asset purchases as the recovery has gained traction.
Sterling extended a fourth weekly gain, the longest run in a year, as Carney told the Yorkshire Post that policy makers would consider expanding quantitative easing only if the economy faltered. The pound rose versus all but two of its 16 major counterparts as a gauge of U.K. consumer confidence climbed to the highest level in almost six years and house prices increased. U.K. government bonds rose with German bunds as European stocks declined, boosting demand for safer assets.