The pound advanced for a second week versus the dollar after the U.K. jobless rate unexpectedly fell below 7 percent, the threshold the Bank of England has set to start considering raising interest rates.
As markets react in real time to Russia’s incursion into Crimea and the annexation of the Black Sea peninsula, stocks jumped the most in three weeks after Ukraine talks brought an accord aimed at easing the crisis.
Emerging-market stocks rose for a second day after diplomatic leaders reached a deal aimed at defusing the crisis in Ukraine. Russia’s ruble posted the biggest advance among the world’s major currencies.
The pound rose to the highest level in more than four years against the dollar as Federal Reserve Chair Janet Yellen signaled the U.S. central bank will keep an accommodative monetary policy that has weakened the greenback.
Emerging-market stocks rebounded from a one-month low after data showing a slowdown in Chinese growth bolstered bets on more economic stimulus. Brazil’s Ibovespa led gains among major equity gauges in the Americas.
The pound approached a four-year high against the dollar after the U.K. unemployment rate fell more in the three months through February than analysts forecast, adding to signs the economy is gaining traction.