Trade weighted sterling hits highest since Aug 2009

LONDON: Sterling rose to its highest in nearly three years against a trade-weighted basket of currencies on Friday, buoyed by its gains against a broadly weak euro due to worries about debt problems in Spain and other peripheral euro zone countries.

The pound's trade-weighted index rose to 84.7, matching a high hit in August 2009, Bank of England data showed.

Its gains came as the euro fell to a low of 77.895 pence, marking its weakest since October 2008.