Sterling rises to one-month high versus dollar
LONDON Dec 3 (Reuters) - Sterling rose to a one-month high against the dollar on Monday, helped by stronger-than expected UK manufacturing PMI data and reported corporate demand.
Sterling rose to $1.6069, its highest level since Nov 2 and the 50 percent retracement of the Sept. 21 to mid-November fall from above $1.63 to $1.5820. Traders expected resistance around this level. (Reporting by Philip Baillie, Editing by Nia Williams)
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The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
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