Pound Climbs Against Dollar, Euro After U.K. Inflation Quickens
The pound advanced against the dollar and the euro after a report showed U.K. inflation accelerated more than economists forecast in October.
Britain’s currency strengthened 0.3 percent to 79.78 pence per euro at 9:33 a.m. London time and advanced 0.1 percent to $1.5898.
Consumer prices rose 2.7 percent from a year earlier, compared with 2.2 percent in September, the Office for National Statistics said in London today. Inflation was forecast to quicken to 2.4 percent, based on the median of 36 estimates in a Bloomberg News survey.
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