LONDON, Jan 14 (Reuters) - The euro and sterling hit session highs against the dollar on Wednesday, while the higher-yielding Australian dollar rose more than 2 percent AUD= as market sentiment improved slightly, also allowing stocks to stabilise.

By 0840 GMT, the euro had hit a session high of $1.3335 versus the dollar EUR=, while sterling rose to $1.4708 GBP=.

Dealers said euro/dollar buy orders had been triggered around the $1.33 level, with targets in the $1.3340-60 area.

They added that markets were also speculating that sterling's rise was in part due to Royal Bank of Scotland (RBS.L: Quote, Profile, Research) repatriating proceeds from its reported sale of about $2.4 billion of shares in Beijing-controlled Bank of China (3988.HK: Quote, Profile, Research) [ID:nLD130632]

(Reporting by London Forex Team)