(Bloomberg) -- The U.K. pound snapped a four-day losing streak against the euro as a report showed inflation will exceed the Bank of England's target for another year, stoking expectations of higher interest rates.
U.K. inflation will exceed the central bank's 2 percent ceiling because policy makers cut borrowing costs too far in 2005, the National Institute of Economic and Social Research said. The pound also rose as a separate report showed consumer confidence in Europe's second-largest economy gained this month.
Read more at Bloomberg Currencies News
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