ET:Sterling hits session high against dollar and euro
LONDON: Sterling hit a session high versus the dollar and the euro, stocks rose while gilts slipped on Friday after data showed that the British economy had grown more than first thought in the second quarter.
The pound was up 0.3 per cent and hit an intra-day high of $1.5638 after data showed that gross domestic product expanded 0.7 per cent in the second quarter, better than the initial estimate of 0.6 per cent.
The euro was down 0.3 per cent against sterling at 85.42 pence.
September gilt futures fell 20 ticks to 108.76 after the data.
The FTSE 100 briefly extended gains following the data, trading up 0.3 per cent before settling back at a 0.2 per cent rise.
