Sterling rose to a five-week high against the dollar on Friday, joining a global push against the greenback and exposing the running assumption that uncertainty ahead of the UK general election is a mounting risk for the pound, Reuters reported. Hedge funds were said to be among those buying sterling, which was on track for a 1 percent rise on the week and its biggest two-week gain against the dollar since the immediate aftermath of Britain's last general election five years ago. In early trading on Friday sterling was 0.6 percent higher at $1.5140, its highest since March 18. Last week, it was trading at a five-year low of $1.4580. The pound was flat against the euro, however, with the common currency hitting a two-week high and on track for its fifth weekly rise in six against the dollar. The euro was steady at 71.95 pence, down slightly on the week, its third weekly fall in a row.
