Sterling edges up versus dollar in American trade

Sterling tilted higher in American trade against the dollar, following an array of data from Britain and the US, the world's largest economy.

As of 05:57 GMT, GBP/USD rose 0.07% to 1.2927 from the opening of 1.2918, with an intraday high at 1.2938, and a low at 1.2879.

Earlier UK data showed net lending to individuals fell to 4.8 billion pounds in July, while mortgage approvals rose to 69 thousand in line with expectations in July.  

From the US, earlier data showed the ADP Non-Farm Employment Change with a better than expected 237 thousand new jobs added to the economy in August, while markets now await the official payrolls report on Friday.  

Otherwise, the second reading for US GDP growth showed a solid 3.0% growth rate in the second quarter, up from 2.6% in the first reading, and besting expectations of 2.7%, while GDP prices rose 3.3%, up from 2.8% in the first reading, while analysts expected 3.0%.