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The pound lost ground against both the dollar and the single European currency as data on industrial production showed it fell half a percentage point in June, despite forecasts of a 0.2 per cent expansion, reports Reuters.
And Forex traders saw sterling drop 30 pips to $1.5870 against the dollar, while the euro rose from 82.93p to reach a high of 83.10p.
Further economic figures showed input price inflation improved less than expected, which may also have dampened Forex speculators' confidence.
At the end of trading on Thursday sterling was weakened by a negative trend as investors awaited US payroll data due today.
The currency fell 0.3 per cent to $1.5832, while the euro enjoyed a boost from strong industrial orders in Germany, which exceeded predictions of a 1.5 per cent increase to reach a high of 3.2 per cent growth in June.
Posted by Greg Secker
