LONDON Dec 12 Sterling hit a five-week high against the dollar on Wednesday after the number of UK unemployment claims fell unexpectedly in November.
The pound hit a high of $1.6134, its highest level since Nov. 1, before paring gains to last trade close to flat on the day at $1.6120. (Reporting by Philip Baillie, Editing by Nia Williams)
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State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour. Read