sterling

Sterling has risen above $1.69 against the US dollar during trading, nearing its highest level for five years following the release of strong manufacturing data for April.

Sterling has climbed to a four-year high against the dollar after the UK's jobless rate, one of the triggers for an interest rate rise, was breached.

Andrew Cole, investment director at Barings, has warned sterling "could get ugly" during the next six months, ahead of the 2015 general election, but said it remains the best of a bad bunch for now.

Weaker US data and ongoing expectations of tighter UK monetary policy have helped boost gold and sterling respectively as the dollar loses ground.

Scottish first minister Alex Salmond has accused the three main UK parties of "bluff, bluster and bullying" after they rejected plans to share the pound with an independent Scotland.

Sterling has climbed against a basket of currencies including the dollar this morning after the Bank of England altered its forward guidance policy and revealed GDP is expected to overshoot expectations.

Investec is considering the sale of Kensington, its intermediary mortgage business in the UK, and has appointed Fenchurch Advisory to conduct the procedure.

Sterling will continue to strengthen this year as investors continue to price in an earlier-than-expected rate rise, according to currency group ECU's head of trading and execution.

The sharp drop in the UK unemployment rate and mounting expectations of a 2014 rate hike pushed sterling to a two-year high versus the US dollar in morning trading.

Pioneer Investments has launched a UK version of its Absolute Return Bond fund, run by Tanguy Le Saout and Cosimo Marasciulo.