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UK: Annual Industrial Production tumbles 2.9% in January

Year-over-year UK Industrial Production fell by 2.9% in January, following a 2.1% drop in December, National Statistics informed on Tuesday. Analysts forecasted less decline of 1.1%. UK Industrial Production slid by 1.2% between December 2012 and January 2013, in comparison with the 1.1% increase registered between November 2012 and December 2012 and against expectations of a 0.1% rise.

On an annual basis UK Manufacturing Production fell by 3% in January, after decreasing 1.6% in December and below expectations of a 1.1% decline. Between December 2012 and January 2013 UK Manufacturing Production dropped 1.5%, following 1.5% growth between November 2012 and December 2012 and against market consensus of no change.

Forex: GBP/USD trading at 1.4847/51 after weak UK data

The GBP/USD recovery movement was sidelined on the heels of weak economic data out of the United Kingdom – the cross is trading at session of 1.4847/51, falling over 50 pips in recent moments to settle -0.46% off its opening.
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Forex: EUR/GBP rallies above 0.8750 on UK industrial production

The EUR/GBP has been finding resistance at the 0.8750 area and the London opening allowed a pullback to 0.8720 zone ahead of the load of UK data. Numbers came in mixed with good trade data in concerning industrial/manufacturing figures, but investors show clear worries and the GBP is at a selloff now. The EUR/GBP rallies above 0.8750, already at 0.8778 high.
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