Economics
Pound in Best Run in 2016 as Investors Question `Brexit' Trades
- Manufacturing slows as consumer prices in euro area drop
- Sterling may extend gains before ECB meeting: Credit Agricole
Who Will Lose the Most Post ‘Brexit’?
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The pound strengthened for a fourth day versus the euro, its longest run of gains since November, as investors questioned the extent of declines driven by concern over a possible British exit from the European Union.
Sterling was little changed against the dollar. While Markit Economics said U.K. manufacturing expanded last month at the slowest pace in almost three years, that was preceded by data which showed factories in the euro area cut prices at the fastest pace in almost three years in February. That added to evidence that the 19-nation economy may need extra stimulus when European Central Bank policy makers meet next week.