Sterling trade-weighted index at highest since late 2008

LONDON: Sterling trade-weighted index was at its highest level since late 2008 on Thursday, buoyed by the pound's gains against the dollar and the euro after strong UK data bolstered expectations of an interest rate hike early next year.

The pound hit its highest level since late 2009 in Asian trade of $1.6838 and was last trading at $1.6830, up 0.2 percent on the day. Sterling was also helped by a weak dollar.

The euro was slightly down against sterling, trading at 82.24 pence, having hit a one-month low 82.2155 pence earlier in the day.

The pound's broad gains pushed sterling trade-weighted index to a 5-1/2 year high of 86.5, data from the Bank of England showed.