The monetary unit of the U.K. achieved a third-straight day of advances on Wednesday against the world's reserve currency as a consequence of economic data indicating industrial generation rose more than projected in September, Bloomberg reports.
The pound is presently immersed in its longest upward trend in about one month. The currency gained after data showed industrial production increased 0.9 percent from August to September, which reversed losses of 1.1 percent from July to August, data released by the National Statistics Office states. Industrial production was projected to climb 0.6 percent from August to September, according to the median projection of 28 Bloomberg-polled economists.
The pound also benefited from independent economic data. Housing prices in the U.S. increased for a ninth month in October, according to an industry report. The monetary unit's gains on Wednesday continue its climb from Tuesday when it rose against all but one of its 16 top rivals.
The monetary unit advanced about 0.3 percent against the greenback on Wednesday, which strengthened an increase of 0.8 percent on Monday and Tuesday.
Manufacturing is growing stronger in the Midlands and aiding the regional economic recovery, according to The Sunday Times.
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