Mubasher: The pound sterling continued its fall on Tuesday to hit its lowest level in nearly seven years, after the latest UK manufacturing production figures showed a severe contraction in output on the year.
Data showed Tuesday that UK’s industrial production fell 0.7% in November from the previous month, compared with forecasts of no change. Manufacturing production dropped 0.4% from the previous month, well below forecasts of 0.1% expansion.
The GBP fell against the dollar today by 0.40% to reach 1.4487 per dollar, which is the lowest level since 1 March ,2009.
