Pound Falls Against Dollar as U.S. Services Growth Unexpectedly Quickens

(Bloomberg) -- The U.K. pound fell against the
dollar after a U.S. report showed growth in service industries
unexpectedly quickened to the fastest pace in 14 months.

The pound has climbed nearly 3 percent versus the dollar
this year on anticipation U.K. economic growth that's outpacing
the U.S. will prompt the Bank of England to keep raising
interest rates. Expansion in U.S. service businesses, which make
up almost 90 percent of the economy, adds to evidence growth
picked up last quarter.


Read more at Bloomberg Currencies News