Sterling returns higher at the open

Sterling rose on Monday after sliding last week, but the pound's movements were still bound in a recent range, curbing today's gains.
 
GBP/USD last traded at 1.2471, up from the opening of 1.2402, with an intraday high at 1.2479, and a low at 1.2401.
 
Sterling returned higher today after falling on Friday due to dollar's wavering against a basket of currencies, underpinning the pound today, specially amid thin trading volumes due to the U.S. bank holiday.
 
On the other hand, the pound's movement were largely flat recently due to conflicting factors on the pound, as odds rise for another U.S. rate hike, while also rising for a British rate hike as inflation surges.
 
The dollar index, tracking the greenback against a basket of currencies, inched up to 100.84 from the opening of 100.82, with an intraday low at 100.73, and a high at 100.98.