Sterling advances for first time in four sessions against dollar

Sterling rose in American trade against the dollar, following a spate of data from Britain and the US, while the FOMC meeting draws to an end in Washington, and as markers look forward to the Bank of England's meeting on Thursday.  

As of 05:35 GMT, GBP/USD rose 0.37% to 1.3367 from the opening of 1.3318, with a session-high at 1.3377, and a low at 1.3312. 

Earlier UK data showed the unemployment rate for the three months ending October at the 1975 low of 4.3%, missing expectations of 4.2%, while average hourly earnings accelerated to 2.5% from 2.4%, as jobless claims rose 5.9 thousand in November, compared to expectations of 3.3K.  

Otherwise, US consumer prices rose 0.4% in November in line with expectations, up from 0.1% in October, while core prices, excluding food and fuel, rose 0.1%, missing expectations of 0.2%. 

On a yearly basis, consumer prices accelerated to 2.2% as expected from 2.0% in October, while core prices slowed down to 1.7% from 1.8%. 

Now markets look forward to US President Donald Trump's speech on tax reforms in the US Treasury Department in Washington, while the Federal Open Market Committee's last 2017 meeting draws to an end today, with policymakers expected to unveil their three-year forecasts for inflation, growth, unemployment, and interest rates, while also expected to hike rates by 25 basis points for the third time this year.