Stronger manufacturing data tugged down U.K. bonds on Monday, marking the second consecutive trading session of losses, Bloomberg reports.
The English pound reversed four days of drops against the U.S. dollar as the third quarter begins with a new chief at the central bank. Governor Mark Carney, fresh from the same job at the Bank of Canada, assumed the leadership for the Bank of England on Monday.
Mortgage approvals drove to their top level in three-and-a-half years, indicating the U.K. economy is recovering.
Carney is slated to convene the first policy meetings of his tenure as the top banker in the U.K. on Wednesday and Thursday.
Through the end of last month, gilts endured losses of roughly 3.5 percent, according to data tracked by the news service. Manufacturing pushed to 52.5 last month after having checked in at 51.5 during the month prior, according to data released by Markit Economics and the Chartered Institute of Purchasing and Supply.
The U.K. finance minister asked Carney to prepare data regarding forward guidance for interest rates, according to Reuters. The timeline for delivery of that data is early next month.
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