The pound posted its biggest gain in a week against the dollar after a report showed U.K. June retail sales rose more than economists predicted, damping concern that the economy might slip back into a recession. Sterling strengthened near its strongest level since April against its U.S. peer. Sales climbed 0.7 percent on the month, the Office for National Statistics said today in London. Economists in a Bloomberg survey predicted a 0.5 percent gain. U.K. stocks advanced with their European counterparts after growth in Europe’s services and manufacturing industries unexpectedly accelerated in July. (full story)