Sterling drops to 5-yr low on soft data, election uncertainty

April 10, 2015 9:14 AM

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LONDON, April 9 (Reuters) - Sterling fell to a five-year low against the dollar on Friday, hurt by weaker-than-expected industrial data and the rising risk of prolonged political uncertainty after a tight British election next month.

Industrial output rose 0.1 percent month on month in February, below a forecast for a 0.3 percent rise in a Reuters poll of economists, official data showed. That did not bode well for first quarter economic growth and weighed down on the currency.

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