Euro rises to nine-month high against sterling

The euro has hit a nine-month high against sterling after UK industrial output grew less than expected in November.

The euro rose to 82.34p, having traded at 82.18p before the data was released, according to Reuters. The move left the euro at its highest level since April 2012. The pound also fell 0.3% against the dollar to a session low of $1.6120, down from $1.6145. The falls came after UK manufacturing output fell by 0.3% in November, compared to the previous month. Azad Zangana, European economist at Schroders, said the fall in manufacturing came as a surprise to the city, which had priced in a 0.5% gain. "Weak export markets particularly in Europe have hit demand, although the recent ris...