Pound Rises for Fifth Day Against Euro on BOE Rate-Increase Bets
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The pound strengthened for a fifth day against the euro before Bank of England Governor Mark Carney speaks this week, as investor focus returns to the timing of interest-rate increases in the U.K.
Sterling appreciated versus all but one of its 16 major counterparts as futures contracts signaled rising prospects the BOE will raise borrowing costs next year. The pound also advanced against the dollar after Scotland voted on Sept. 18 to stay part of the U.K., ending debate on whether the country would have to choose a different currency had it separated. U.K. 10-year government bonds rose after the Group-of-20 warned of potential financial-market risk from low interest rates.