Sterling pierces 1.4 barrier versus dollar

Sterling rose against the dollar away from January 17 lows for the fourth straight session, marking February 5 highs today, following earlier data from the US and amid a lack thereof from Britain. 

As of 04:55 GMT, GBP/USD rose 0.51% to 1.4070 from the opening of 1.3999, with a session-high at 1.4100, and a low at 1.3995. 

Earlier US data showed producer prices rose 0.4% in line with expectations in January, compared to a 0.1% dip in December, while core prices rose 0.4%, compared to a 0.1% slip, and beating expectations of a 0.2% increase. 

Unemployment claims rose 7 thousand to 230 thousand from 223 thousand in the previous reading, above expectations of 229K, while the Philly manufacturing index rose to 25.8 from 22.2 in January, beating forecasts of 21.5. 

The Empire State Manufacturing Index fell to 13.1 in February from 17.7 in January, while industrial production fell 0.1% in January, compared to a 0.4% rise in December, revised from a 0.9% increase, while analysts expected a 0.2% rise. 

The Capacity Utilization Rate fell to 77.5% from 77.7% in December, revised from 77.9%, and missing expectations of 78.0%.