Sterling inches closer to 18-month high vs euro after UK data

LONDON: Sterling rose towards recent 18-month highs against the euro and recovered ground against the dollar on Tuesday, after data showed industrial output in Britain expanded at its fastest annual pace in more than three years in April.

The euro fell 0.2 percent to 80.68 pence after the data from around 80.80 pence beforehand, within striking distance of its 18-month low of 80.64 pence hit last week.

Sterling gave up earlier losses to turn higher against the dollar after the industrial data. It was last trading at $1.6809 after the data, up from around $1.6788 beforehand.