Pound Climbs to 4-Year High Versus Yen on U.K. Outlook
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The pound advanced, appreciating to a four-year high versus the yen, on speculation the U.K. economy will outperform those of its major counterparts.
Sterling rose for a second day against Japan’s currency after a government report showed growth in the Asian nation’s economy cooled last quarter. The pound extended this month’s gain versus the euro after Europe’s statistics office said the region’s gross domestic product came close to a halt in the third quarter. The Bank of England signaled yesterday it may raise interest rates sooner than it previously predicted as the economy improves. U.K. government bonds rose.