The pound was little changed against the dollar and the euro after a report showed U.K. consumer confidence dropped to a six-month low in October. Sentiment declined to minus 30 from minus 28 in September, London-based research group GfK NOP Ltd. said in an e-mailed report today. An index based on a survey of purchasing managers will show the U.K. manufacturing sector shrank in October when the data is released tomorrow, according to the median forecast of 27 economists in a Bloomberg News survey. The pound rose less than 0.1 percent to $1.6082 at 7:48 a.m. London time after falling to $1.5914 on Oct. 23, the weakest level since Sept. 6. Sterling was little changed at 80.61 pence per euro, after weakening 0.5 percent over the past three days. The Bank of England will decide Nov. 8 whether to increase its asset-purchase target, or quantitative easing, from 375 billion pounds to boost the economy. The pound gained 1.7 percent this year according to Bloomberg Correlation-Weighted Indexes, which track 10 developed-market currencies. The euro and the dollar both dropped 2.1 percent. Gilts returned 2.8 percent this year through yesterday, according to indexes compiled by Bloomberg and the European Federation of Financial Analysts Societies. German bonds gained 3.2 percent and U.S. Treasuries earned 1.9 percent. To contact the reporter on this story: Neal Armstrong in London at narmstrong8@bloomberg.net To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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