Sterling hit a 9 1/2-month high against a currency basket on Tuesday as the UK currency rallied to its strongest against the euro in 10 months, while also gaining strongly against the dollar.
Trade-weighted sterling, which tracks the pound's value against the currencies of the UK's main trading partners, rose to 81.4, its highest since early March.
In earlier trade, sterling rallied roughly 1 percent against the dollar to the day's high of $1.5649, pushed higher after a series of stop-loss orders were triggered around $1.5600 and above.
The euro fell to 83.55 pence.
read more: Olympus Wealth Management
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