Mar
04

Pound Advances Against Euro as U.K. Sentiment Improves

The pound rose against the dollar and euro after a survey showed U.K. consumer confidence in February rose from the lowest level in at least four years.

The currency also advanced on speculation the Bank of England may bolster economic growth by cutting its benchmark rate to a record low tomorrow and signaling its ready to buy government bonds as part of a quantitative easing policy. An index of U.K. sentiment increased to 43 last month, from 41 in January, which was the worst result since data began in 2004, Nationwide Building Society said today.

www.bloomberg.com

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