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Sterling managed to continue its seven-week high against the dollar, growing to $1.5853, Reuters reports.
This morning, the UK currency had moved up to $1.5844 - its highest rate since August - and according to the news provider, the pound's recent rise was due to traders citing that the demand was related to dividend payments from UK banks.
And this had a positive effect on sterling's progress against the euro as it increased versus the single currency, which fell by 0.3 per cent to 84.98 pence.
But on Friday the pound fell against the euro, which rose by 0.4 per cent at 85.28 pence after German Ifo's business sentiment index increased more than expected in September, the news provider noted.
Earlier in the day, it had reached a session high of 85.37 pence.
Posted by Greg Secker
