World Economy

Pound’s Best Week in a Year

Pound’s Best Week in a YearPound’s Best Week in a Year

The pound had its biggest weekly gain in a year and UK government bonds slid on evidence of an improving British economy, Bloomberg said. With manufacturing and construction expanding at a faster pace than economists forecast, and house prices jumping, Citigroup Inc.’s gauge of UK economic surprises climbed to the highest level since April. Protracted deliberations in the euro area over Greece’s debt enhanced the allure of sterling as an alternative to the common currency. The pound’s gains may have been greater still, but for a report on Friday that showed the US economy added more jobs in January than analysts forecast.