Sterling prodded higher by better-than-expected UK survey

GMT 17:12 2014 Monday ,03 November

Arab Today, arab today Sterling prodded higher by better-than-expected UK survey

London - SPA

Sterling rose to its strongest in a month against the euro and an intraday high against the dollar on Monday after a survey of UK manufacturing purchasing managers came in stronger than forecast, Reuters reported.
The pound has held up relatively well through a week of turbulence on global foreign exchange markets, resisting a surge by the dollar despite another mixed bag of data and policymaker comment on the UK economy.
The pound traded at 78.105 pence per euro, a quarter of a percent stronger on the day and within sight of a more than two-year record of 77.66 hit on Sept. 30. A few pips below that are its strongest rates against the single currency since the 2008 financial crisis.
Against the dollar, it hit $1.6027 before retreating to be roughly steady on the day at $1.6005.

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