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Pound Weakens Against Dollar After U.K. Manufacturing Declines

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Jan. 11 (Bloomberg) -- The pound weakened against the dollar and euro after a report showed U.K. manufacturing production unexpectedly declined in November.

Sterling declined 0.2 percent to $1.6129 at 9:35 a.m. London time. It weakened 0.3 percent to 82.30 pence per euro.

U.K. government bonds advanced, with the 10-year yield slipping one basis point to 2.08 percent.

Factory output fell 0.3 percent from October, when it dropped 1.3 percent, the Office for National Statistics said today in London. The median forecast of 24 economists in a Bloomberg News survey was for a 0.5 percent gain. Total industrial production rose 0.3 percent, also less than forecast.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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