Sterling heads for weekly profit

Sterling wavered on Friday with a tilt lower, but headed for a weekly profit after two weeks of losses, and following weak retail sales data from Britain, while the dollar wavers as well.
 
GBP/USD last traded at 1.2333, compared to the opening of 1.2339, with a session-high at 1.2373, and a low at 1.2262.
 
Sterling wavered today amid thin trading volumes and as markets await Donald Trump's inauguration speech after getting sworn in, which forced the dollar to move sideways and stabilized the pound.
 
Earlier U.K. data showed retail sales down 1.9% in December, compared to expectations of a 0.1% dip, and worse than November's 0.1% slip.
 
Weak British retail sales data, added to thin trading volumes, forced the pound to waver, but was still on track for a weekly profit after drawing support this week from British Prime Minister Theresa May's speech, restoring confidence in the economy.