Sterling extends gains to hit 2-week high vs dollar
LONDON (Reuters) - Sterling rose to a two-week high against the U.S. dollar and extended gains against the euro on Friday as investors cheered the pre-emptive measures that UK policymakers have taken to shore up the economy from the euro zone debt crisis.
Sterling was also helped by talk of steady demand from institutions said to be acting on behalf of the Swiss National Bank which has been recycling euros in its foreign exhange reserve to buy currencies like the pound.
Sterling was up 0.4 percent on the day at $1.5626, rising past reported stops above $1.5601 to its highest level since May 30. The euro was down 0.5 percent at 80.75 pence.
(reporting by Anirban Nag; editing by Nia Williams)
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