LONDON Dec 3 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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Plans by India's coal monopoly to buy billions of dollars of new machinery and outsource work are facing resistance from powerful unions worried about job losses, in potential blow to Prime Minister Modi's promise to bring electricity to all. Read