Sterling hits 2-month high vs euro ahead of GDP breakdown

LONDON, Feb 22 (

Reuters

) - Sterling gained another 0.4 percent against the euro in early trade in

London

on Wednesday, extending a run to two-month highs in the previous session driven by French political nerves. At 0758 GMT, the pound was trading at 84.12 pence per euro, its strongest since Dec. 21. It was also up 0.1 percent against the dollar, with eyes moving to a breakdown of economic growth numbers for the fourth quarter for signs of a fall-off in business investment six months after

Britain

's vote to leave the European Union. "The pound continues to defy expectations for further weakness in the near term," said

Lee Hardman

, a currency analyst with

Japan

's

MUFG

in London. "Upward momentum has been reinforced after EUR/GBP closed below its' 200-day moving average at around 84.70 for the first time yesterday since late in 2015. It could provide an important bullish technical signal for the pound in the near-term." (Reporting by Patrick Graham, editing by

Nigel Stephenson

)
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