Sterling rises to one-month high versus dollar

LONDON Mon Dec 3, 2012 4:16pm IST

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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