RTRS:Sterling rises one percent on day versus weak dollar
Oct 12 (Reuters) - Sterling rose one percent against a broadly weak U.S. dollar on Wednesday, which came under heavy pressure on hedge fund selling and a rise in equity markets, forcing short positions in the pound to be squeezed.
Sterling rose to around $1.5764, its highest since Sept. 16. Traders also said corporate demand for the pound related to dividend payments was helping to push it higher on the day. (Reporting by Neal Armstrong)
