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.

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.