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Sterling hits one-month high vs euro on industrial output data
Imaduddin
06 Nov, 2013
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![](https://i.brecorder.com/images/2013/11/sterling-sterling00.jpg">LONDON: Sterling rose to a one-month high versus the euro and a one-week peak against the dollar on Wednesday after data showed that UK industrial output growth outpaced expectations in September.</P><P>Output in the industrial sector - which makes up about one sixth of Britain's economy - climbed 0.9 percent, bouncing from a fall in August and beating the Reuters' forecast of 0.5 percent.</P><P>This lent support to the view that a sustained economic recovery in the UK was likely taking hold and helped sterling extend gains after Tuesday's UK PMI services data which showed the sector had expanded at its fastest pace in 16 years.</P><P>The euro was last flat against sterling at 83.96 pence, having hit 83.79 pence which was its lowest since Oct. 3. Support was cited at the October low of around 83.32 pence.</P><P>The pound was up 0.4 percent at $1.6101, having hit a one-week high of $1.6118.</P><P>)