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Markets

Trade-weighted sterling hits 10-week high

Published Updated

sterlingLONDON,: Trade-weighted sterling hit a 10-week high on Friday, boosted by gains in sterling against the dollar after US inflation data reduced expectations the Federal Reserve would tighten monetary policy sooner than it has pledged.

Trade-weighted sterling rose to 81.7, its highest level since Jan. 6, Bank of England data showed. The pound climbed nearly 1 percent against the dollar to $1.5852.

Copyright Reuters, 2012

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