LONDON Jan 3 Sterling rose to a two-week high
against the euro on Tuesday - the first day of London trading in
2017 - after a survey suggested British manufacturing growth
climbed to a two-and-a-half-year high last month.
The monthly purchasing managers index (PMI) for the
manufacturing sector rose to 56.1, the strongest reading since
June 2014, exceeding all forecasts in a Reuters poll, which
pointed to a decline to 53.1.
The pound strengthened to 84.675 pence per euro
after the data, its strongest since Dec. 22. That left it up 0.6
percent on the day, having traded at 85.01 pence before the
results of the survey were released.
Against a broadly stronger dollar, sterling turned positive
on the day to trade as high as $1.2290, up from $1.2258
before the data.
Britain's FTSE 100 drifted down from record highs as
sterling rose, but remained up 0.4 percent for the day.
(Reporting by Jemima Kelly and Alistair Smout; editing by