Bloomberg News

Pound Stays Higher Versus Euro Even as U.K. Manufacturing Slumps

October 24, 2012

The pound stayed higher against the euro even as an industry report showed Britain’s manufacturing industry unexpectedly slumped this month.

Britain’s currency strengthened 0.6 percent against the euro to 80.93 pence at 11:06 a.m. London time and was 0.2 percent higher at $1.5982.

A gauge of factory orders dropped to minus 23 in October from minus 8 in September, the Confederation of British Industry said in a report in London today. The median of 11 analysts’ forecasts in a Bloomberg News survey was for an increase to minus 6.

To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net


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