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Sterling rises to 4-1/2 month high versus dollar
September 17, 2012 / 1:57 PM / 5 years ago

Sterling rises to 4-1/2 month high versus dollar

LONDON, Sept 17 (Reuters) - Sterling rose to its highest in 4-1/2 months against a weak dollar on Monday, as speculators and investors sold the U.S. currency after the Federal Reserve opted for further monetary stimulus to support the economy.

Sterling rose to $1.6262 up 0.3 percent on the day against the dollar and some said it could rise towards its 2012 high of $1.6304.

Its gains came as the euro hit a four-month high against the dollar of $1.31729 on trading platform EBS.

The dollar was also hurt by disappointing data that showed the Empire State manufacturing index falling more than expected.

reporting by Anirban Nag; editing by Jessica Mortimer

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