The pound advanced to the
strongest level in more than four years against the dollar this week as signs
the U.K. economic recovery is gathering momentum boosted the allure of British
assets.
Sterling climbed for a
fourth week versus the greenback as data showed growth accelerated in the first
quarter and house prices rose at the fastest pace since 2007.
The Cable
advanced against the euro as a purchasing managers index for manufacturing rose
more than analysts forecast.Sterling has climbed 5.5
percent in the past six months, as the strengthening recovery fuels speculation the Bank of England will raise
borrowing costs sooner than other central banks.
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