Sterling hit a 3-week low against a recovering U.S. dollar on Thursday, falling a third of a percent ahead of industrial output and trade data watched for more signs of the economic impact of the Brexit process.
The pound has lost more than 13% in trade-weighted terms since last year's decision to leave the European Union but Britain's trade deficit with the rest of the world remains huge.
Sluggish output numbers a month ago also weakened sterling further, although a survey by the Confederation of British Industry in late July suggested manufacturing was improving at the fastest rate since the mid-1990s.
By 0755 GMT, sterling was down 0.35 pct on day at $1.2952. It was roughly flat at 90.42 pence per euro. (Reuters)
Source: www.businessworld.ie