Pound briefly bounces after better than expected survey data

• Sterling rose as much as 0.3pc to $1.3180 before erasing those gains. It was last flat on the day at $1.3125.
• The euro the pound strengthened to 83.90 pence and was last up 0.2pc to 84.12 pence.

LONDON: The British pound extended its gains on Friday after surveys showed that British companies are enjoying their best month in more than a year, although the rally was brief as a potential Bank of England interest rate cut hangs in the balance.

Sterling rose as much as 0.3pc to $1.3180 before erasing those gains. It was last flat on the day at $1.3125.

Against the euro the pound strengthened to 83.90 pence and was last up 0.2pc to 84.12 pence.

British stocks climbed higher after the purchasing managers index surveys for December came in better than economists had expected.