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Sterling rises after UK industrial output data beats forecasts
Imaduddin
06 Aug, 2013
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![](https://i.brecorder.com/images/2013/08/sterling-sterling.jpg">LONDON: Sterling rose on Tuesday after Britain's industrial output beat forecasts, adding impetus to the view that the economy was firmly on the path of a recovery.</P><P>But market participants refrained from pushing the pound much higher before Wednesday's Bank of England Inflation Report, in which the central bank could provide forward guidance and indicate that interest rates will stay at record lows for a prolonged period.</P><P>Sterling was up 0.1 percent at $1.5366, having hit a session high of $1.5392. The euro was down 0.1 percent at 86.29 pence, off a low of 86.185 pence.</P><P>Britain's industrial output in June rose much faster than forecast and hit its quickest pace in over two years, driven by manufacturing.</P><P>The numbers followed data on Tuesday showing British retail sales had their best July performance since 2006, while UK house prices rose at their fastest since 2010.</P><P>)