“But the weakness of sterling is pushing up the cost of imports, and our survey shows strong signs of this feeding through to higher factory gate prices. After a challenging 2016, UK manufacturers will want to build on the positive momentum going into the new year, with the Government’s recent commitments on a modern industrial strategy and innovation investment a welcome tonic.”
Sterling is currently being traded around 1.2420 level. Pair is likely to find support around 1.24 handle and resistance above 1.25 area.
