The EUR/GBP exchange rate decreased on the report showing stronger-than-expected growth in the EU industrial production. The Euro lost against the British Pound 11 base points, but then jumped to be seen trading above the 0.9000 mark. After the ECB President Mario Draghi delivered his speech, the pair fell and continued consolidation nearing the 0.8920 level.
The Eurostat reported that the growth of industrial production in the Euro area expanded to the nine-month high over the course of August, revealing a 1.4% climb versus 0.5% expected. The improvement in the EU industrial output pointed to the sector’s strong growth in the Q3, which is likely to support healthy economic recovery.
