According to Gordon Brown’s spokesman, data showing UK industrial output rose unexpectedly in April is a sign that government actions to boost the economy are having an effect.
The spokesman said “There are signs that the government’s actions to support the economy through this difficult downturn are having an effect but this remains a very difficult global economic situation and there are absolutely no grounds for complacency.”
Cable is steadying after an earlier swoon, presently back up at 1.6380.