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.

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.