Bloomberg News

Pound Extends Advance Against Dollar After U.K. Services Data

March 05, 2013

The pound extended an advance versus the dollar after a gauge of U.K. services activity expanded more than analysts forecast last month.

Sterling advanced 0.5 percent to $1.5194 at 9:41 a.m. London time. It strengthened 0.3 percent to 85.94 pence per euro.

U.K. 10-year government bonds extended their decline, with the yield climbing six basis points, or 0.06 percentage point, to 1.97 percent.

A gauge of services activity was at 51.8, from 51.5 in January. A reading above 50 indicates expansion. The median of 29 analysts forecasts in a Bloomberg survey was for a reading of 51.0.

To contact the reporter on this story: Neal Armstrong in London at narmstrong8@bloomberg.net

To contact the editor responsible for this story: Keith Jenkins at kjenkins3@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus