March 30, 2017 / 2:07 PM / 8 months ago

Sterling rises vs. dollar after CNBC report on Trump currency stance

LONDON (Reuters) - Sterling hit a day’s high against the dollar on Thursday as the dollar fell broadly, with traders citing a CNBC report that U.S. President Donald Trump’s administration was assessing new ways to go after countries that try to weaken their currencies.

U.S. dollar and British pound notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration

Sterling, which was already up on the day as investors bought back into the currency after Britain lodged its formal request to leave the European Union, benefited from the greenback’s weakness.

It climbed almost half a cent after the CNBC report was published to hit a day's high of $1.2526 GBP=D3, up 0.7 percent on the day.

It also extended gains against the euro to hit a four-week high of 85.765 pence EURGBP=D4.

Reporting by Jemima Kelly, Patrick Graham and Ritvik Carvalho

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