The pound headed for its biggest weekly gain against the dollar in almost two months as the Federal Reserve’s unexpected commitment to start buying Treasuries boosted supply of the U.S. currency. The pound also held near its highest level in a month after the Financial Times cited Bank of England Chief Economist Spencer Dale as saying the U.K. economy will begin expanding this year. The Fed announced March 18 its balance sheet will grow by as much as $1.15 trillion as it buys as much as $300 billion of government debt. “In the wake of the surprise from the Fed, the dollar is suffering across the board, including against the pound,” said Jeremy Stretch, a senior currency strategist in London at Rabobank International. “Any further gains in the pound will be driven by what happens in the U.S.” The pound slipped to $1.4470 by 10:35 a.m. in London, from $1.4506 yesterday, paring its advance this week to 3.2 percent. That’s the biggest gain since the five days ending Jan. 30. It strengthened 0.2 percent to 93.97 pence versus the euro, paring its weekly loss to 1.7 percent.

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