TWI sterling rises to 84.7, hits highest of 2009
LONDON, June 30 (Reuters) - Sterling hit its highest level of the year against a basket of currencies on Tuesday, boosted by gains against the dollar earlier in the day.
Trade-weighted sterling =GBP, which tracks the pound's value against a basket of currencies belonging to the UK's major trade partners, rose to 84.7, its highest since early November, according to records kept by the Bank of England.
The index rose after sterling GBP=D4 jumped roughly 1 percent to an eight-month high of $1.6745.
The pair was boosted after data showing that that UK house prices rose for the second month in a row in June and posted their smallest annual fall in nearly a year suggested that the ailing UK housing market may be stabilising.
(Reporting by Naomi Tajitsu)
© Thomson Reuters 2009 All rights reserved
UK joins G20 push for world levy on banks
Britain threw its weight behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100 billion deal to meet the cost of climate change. Full Article | Full Coverage
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article
India
US
UK
