Pound may gain with increased retail sales

The pound may gain against the euro on expectations a report will show retail sales increased in November, adding to speculation the Bank of England may not have finished raising its benchmark interest rate.

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Retail sales may have gained 0.2 percent in November, after declining 0.4 percent a month before, according to the median forecast of 33 economists. Annual sales may have risen 5.7 percent. The government report will be released today at 9:30 a.m. in London. The U.K. central bank has raised rates five times since November 2003 to curb inflation.