LONDON, July 17 (Reuters) - Sterling extended losses on Friday, falling roughly 1 percent on the day against the dollar as risk-averse traders continued to trim long positions in the UK currency.

Sterling GBP=D4 fell as low as $1.6268, pulling further away from a two-week high of $1.6482 hit on Thursday.

The euro EURGBP=R edged up to the day's high of 86.58 pence, according to Reuters data, up around 0.6 percent on the day.

(Reporting by Naomi Tajitsu)