Sterling climbs as dollar declines, but wavering continues
2017-02-16 17:32:49 GMT (
Sterling climbs as dollar declines, but wavering continues

Sterling rose on Thursday away from a one-week low hit last week, as the royal currency rebounds following dollar's tumble on profit-taking after hitting a five-week high yesterday.
GBP/USD last traded at 1.2495, up from the opening of 1.2462, with a session-high at 1.2520, and a low at 1.2454.
The dollar fell today for the second session after surging yesterday following strong U.S. retail sales and inflation data, with traders collecting profits on the greenback, in turn buoying the pound.
The dollar is till hurting the pound due to the divergence in the monetary policy between the Fed, which could raise interest rates in March as alluded to by Chair Yellen, and the Bank of England, which plans to keep interest rates at their record lows alongside the stimulus program.
The gains remain limited for the pound due to wavering from last week, as markets await further developments regarding the Brexit negotiations.

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