June 11 Tuesday 11:30 GMT
LONDON - Cable fell 58 points to 1.5532 from 1.559 against the dollar in Europe from the pressure of Euro-Sterling buying. The euro rose 40 points against the pound to 0.8550 from 0.8510 which erased the small gains of the pound following the U.K. Industrial and Manufacturing data.
UK Data: UK April Industrial Production +0.1% m/m; -0.6% y/y
UK April Manufacturing Output -0.2% m/m; -0.5% y/y
UK April +0.5% 3m/3m; -1.2% 3m y/y
UK April Industrial Production +0.8% 3m/3m; -1.5% 3m y/y
Industrial production inched higher in April, rising by a slightly higher-than-expected 0.1%, boosted by increased oil production as output from the Elgin North Sea field gathers pace. Production dropped 0.6% in the year to April, the 25th consecutive fall in year-on-year output.
The 21-day moving average fell from 1.5585 to 1.5545. The 60-day moving average fell from 1.5580 to 1.5555 against the dollar.