LONDON: Sterling jumped to Wednesday's high after data showed industrial output in Britain grew at its fastest pace in nearly four years in April, beating forecasts and wrong-footing investors who had positioned for a weak number.
Industrial output rose 2.0 percent in April after a 0.3 percent rise in March, the biggest month-on-month increase since July 2012, the Office for National Statistics said. Economists polled by Reuters had expected it to stagnate on the month.
Manufacturing output also rose at its fastest pace since July 2012, up 2.3 percent on the month after a 0.1 percent increase in March.
Sterling rallied to $1.4580, up 0.2 percent on the day, and rising from $1.4530 before the data was released. The euro slipped to 77.97 pence, from 78.255 pence beforehand.
Sterling, which hit a three-week low against a basket of currencies on Monday, has been hostage to opinion polls before a British referendum on whether the country stays in the European Union or not. The vote is due on June 23 and polls suggest it is a close race between "Remain" and "Leave".
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