Mid-Day Report: Sterling Tumbles on Production Data, Kiwi Firm ahead of RBNZ

Mar 10 2010

Sterling weakens broadly today on poor production data from UK. Industrial production dropped -0.4% mom, -1.5% yoy in January while manufacturing production dropped -0.9% mom and rose 0.2% yoy. Investors remain concerned with the momentum of recovery, fiscal deficit as well as political uncertainty in UK. BoE MPC member Adam...