U.K. Gilts Little Changed Before Industrial-Production Report
U.K. government bonds were little changed before a government report forecast to show industrial production increased in November.
The pound reached a two-week low against the euro after European Central Bank President Mario Draghi said yesterday the common-currency area’s economy should gradually recover. U.K. industrial output rose 0.8 percent according to the median estimate in a Bloomberg News survey, after it fell 0.8 percent in October. The U.K. is set to auction 2.5 billion pounds of 28- , 91- and 182-day bills today.
Sterling fell 0.1 percent to 82.18 pence per euro after depreciating to 82.19 pence, the weakest level since Dec. 28. The pound dropped 0.1 percent to $1.6151.
The U.K. currency has fallen 1.1 percent this year, the second-worst performer of 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes. The yen dropped 3.1 percent and the dollar declined 0.3 percent.
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