Sterling edges lower vs. dollar as eyes on May

Economies.com
2017-05-22 16:48PM UTC

Sterling titled lower against the dollar for the first time in six sessions following earlier U.K. data, while investors await Prime Minister Theresa May's BBC interview later today. 

 

There was no U.S. data today, while later this week, investors await  the Federal Reserve's minutes for the May 2-3 policy meeting, at which policymakers held interest rates unchanged at between 0.75% and one percent after growth slowed down to three-year low in the first quarter. 

 

As of 05:22 GMT, GBP/USD rose to 1.3020 from the opening of 1.2938, with an intraday high at 1.3036, and a low at 1.2927.

 

Earlier U.K. data showed the housing price index up 1.2% in May from 1.1% in April, while rising 3.0% y/y, accelerating from 2.2% in April, as analysts expected 2.0%. 

 

On another note, investors followed Federal Reserve Bank of Philadelphia President Patrick Harker's speech about the link between physical and economic well being at the Jefferson College of Health Professionals, in Philadelphia, while Federal Reserve Bank of Minneapolis President Neel Kashkari delivered opening remarks at the Opportunity & Inclusive Growth Institute Conference, in Minneapolis.

 

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