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Sterling rose on Wednesday, trading near two-week highs against the dollar after data showed British industrial output growing faster than expected in April.
Industrial output rose 0.4 per cent on the month, above economists’ average forecast for a 0.1 per cent increase, after rising by 0.6 per cent in March, and analysts said this raised speculation that Britain’s economy picked up speed in the second quarter.
But manufacturing output fell 0.4 per cent, largely unwinding a similarly sharp jump for the sector in March.
Sterling rose to $1.5447, up 0.45 per cent on the day from around $1.5435 beforehand. It later pulled back to $1.5426.
The euro trimmed gains to trade at 73.35 pence, having traded at 73.41 before the data was released.
British government bond futures dipped very briefly after the data. There was little reaction in the stock market.
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