The US dollar is little changed against most of the major currencies. Sterling is the notable exception, losing about 0.75% to trade at three-day lows. It was on the defensive in early European turnover but got the run pulled from beneath by the unexpectedly poor data. UK industrial output fell by 1.3% in October. The median forecast was for a small increase. While oil and gas took a toll, as one of the large North Sea fields was closed for maintenance, manufacturing output slumped by 0.9%. A small gain was expected. The decline was sufficient to push the year-over-year rate into contraction (-0.4%) for the first ... (full story)