Sterling hits more than 4 month high versus dollar

LONDON: Sterling rose to its highest in more than four months against the dollar on Friday, extending gains after the Federal Reserve announced aggressive monetary easing the previous day which weighed on the dollar.

The pound rose to 0.3 percent to $1.6210, its strongest since early May. Further gains would see it target the May 1 high of $1.6248 and then the 2012 peak of $1.6304 reached on April 30.

The pound was helped by gains against a broadly weaker yen, traders said. It rose to a four-month high of 126.74 yen.