Sterling holds near 3-month highs ahead of construction PMI

LONDON: Sterling held near a three-month high of $1.36 on Wednesday, as traders paused ahead of a survey of Britain's construction sector.

At 0900 GMT, the pound was trading flat at $1.3592 amid broad general dollar weakness after recording its best annual performance against the dollar last year since 2009, with an almost 10 percent rise.

Against the euro, sterling was down slightly at 88.54 pence .

A purchasing managers' index (PMI) for the construction sector was expected to show activity at 52.5 for December, according to analyst expectations, down marginally on the previous month.

David Madden, an analyst at CMC markets, attributed the pound's recent strength to dollar weakness, and said "rallies could encounter resistance at $1.3600 or $1.3659".