Bloomberg News

Pound Advances Against Euro as U.K. Sept. Budget Deficit Narrows

October 19, 2012

The pound rose against the euro as Britain posted its smallest September budget deficit since 2008.

The U.K. currency advanced 0.1 percent to 81.35 pence at 9:34 a.m. London time. It was little changed at $1.6045.

The shortfall excluding government support for banks was 12.8 billion pounds ($20.5 billion) compared with 13.5 billion pounds a year earlier, the Office for National Statistics said in London today. The median of 21 estimates in a Bloomberg News survey was for a deficit of 13.5 billion pounds.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net


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