Euro hits 11-month high versus struggling pound

LONDON: The euro extended gains into a fifth straight session on Tuesday to hit a 11-month high against sterling, with the British pound hurt by grim prospects for an economic recovery in the UK.

The euro was up 0.2 percent at 84.36 pence, its highest since late February with the common currency also buoyed by a reversal of safe-haven inflows that bolstered the British pound during the euro zone debt crisis last year.

Worries about the euro zone debt crisis have waned this year with European Central Bank chief Mario Draghi turning cautiously optimistic about the region's prospects.