The UK pound rose the most in more than two weeks against the euro amid growing confidence that the UK will recover at a faster pace than other European economies struggling to contain budget deficits. Sterling rose for a fourth day against the dollar, the longest such streak since gains in each of the nine trading days up to August 3.

US dollar

The dollar rose against the euro after a report showed US consumer spending increased in July.

Euro

The single currency lost pace against both the US dollar after positive data from the US, and the UK pound following growing confidence in the economic recovery.

Japanese yen

The yen rose against the dollar on speculation that the Bank of Japan’s decision to increase credit-easing measures won’t be enough to weaken the nation’s currency from almost its highest level in 15 years. Japan’s yen remained higher versus all its 16 most-traded counterparts even as the Prime Minister said the nation will spend 920 billion yen ($10.8 billion) on economic stimulus and the Central Bank added 10 trillion yen in liquidity injections.

Commercial Foreign Exchange Travelex Malta, freephone: 800 733 22, www.travelex.com/mt/

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