Sterling glides off mid-2016 peak versus dollar

Sterling fell in American trade away from June 24, 2016 highs against the dollar, following earlier data from Britain and the US, the world's largest economy, and ahead of a speech by Federal Reserve Bank of Atlanta President Raphael Bostic later today. 

As of 04:18 GMT, GBP/USD fell 0.32% to 1.4293 from the opening of 1.4339, with a session-low at 1.4286, and a 22-month high at 1.4377. 

Earlier UK data showed the unemployment rate in the three months ending February fell to 4.2% from 4.3%, while average wages rose 2.8, missing expectations of 3%, as jobless claims fell to 11.6 thousand from 15.1 thousand, below forecasts of 13.3 thousand. 

Otherwise, earlier US data showed housing starts rose 1.9% to an annualized 1.319 million units in March, compared to a 3.3% drop in February to 1.295 million, while analysts expected a 2.5% rise to 1.267 million. 

Building permits rose 2.5% to 1.354 million units, compared to a 4.1% fall in February to 1.321 million, while analysts expected no change at 1.321 million, as industrial output slowed down to 0.5% from 1.1% in February, beating forecasts of a 0.3% rise. 

The Capacity Utilization Rate inched down to 78% from 78.1 in February, also beating forecasts of 77.9%, while Federal Reserve Bank of San Francisco President John Williams spoke earlier today about monetary policy at a global symposium co-hosted by the National Association for Business Economics and Bank of Spain, in Madrid.

Federal Reserve Governor Randal Quarles testified on supervision and regulation before the House Financial Services Committee, in Washington DC.