The pound approached a three-week high versus the dollar before a report economists said will show a measure of new orders at U.K. factories rose to the highest level since 1995 this month.
Sterling was little changed against the euro before Bank of England Governor Mark Carney holds a press conference in London later today. The Confederation of British Industry’s manufacturing gauge increased to 10 from 9 in September, according to the median estimate of 13 analysts in a Bloomberg News survey.
The pound rose 0.3 percent to $1.6209 at 7:24 a.m. London time after climbing yesterday to $1.6257, the highest since Oct. 1. The U.K. currency traded at 85.21 pence per euro after depreciating to 85.32 pence yesterday, the weakest level since Sept. 2.