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Pound Gains for Fourth Day on U.K. Growth Bets; Gilts Decline

The pound advanced for a fourth day against the dollar, approaching a four-year high, as investors added to bets on faster U.K. economic growth.

Sterling gained versus the euro even as U.K. gross domestic product accelerated in the first quarter at a slower pace than analysts expected. Bank of England Governor Mark Carney said “the recovery is starting to broaden out” and described policy makers as “prudently optimistic,” according to a report on the Bristol Post’s website today. Central bank official Ian McCafferty said “chances of a fully sustained recovery” were at the “highest” for a long time.