Sterling rises past 1.33 versus dollar

Sterling rose in American trade away from November 20 lows for the third session versus the dollar, following earlier data from Britain and the US. 

As of 06:52 GMT, GBP/USD rose 0.11% to 1.3301 from the opening of 1.3286, with an intraday high at 1.3348, and a low at 1.3278. 

British Data 

Earlier UK data showed net individual lending rose to 5.7 billion pounds from 4.4 billion in March, beating expectations of 5.2 billion, while mortgage approvals fell to 62 thousand from 63 thousand.   

M4 money supply rose 0.2%, compared to a 1.4% drop in the previous session, while analysts expected a 1.1% decline, while a spokesman for the British government expressed "deep disappointment" over US decision to officially impose tariffs on EU, Canadian, and Mexican steel and aluminum imports. 

US Data 

Otherwise, earlier US data showed unemployment claims fell 13 thousand to 221 thousand from 234 thousand, as analysts expected 228K, while continuing claims fell 16 thousand in the week ending May 19 to 1.726 million from 1.742 million, as analysts expected 1.733 million. 

Personal spending rose 0.6% in April, up from 0.5% in March, and beating forecasts of 0.4%, while personal income rose 0.3% as expected from 0.2%. 

Core personal spending rose 0.2% m/m, beating forecasts of 0.1%, while steadying up at 1.8% y/y in line with forecasts. 

Chicago PMI rose to 62.7 in May from 57.6 in April, beating forecasts of 58.2, while  pending home sales fell 1.3% m/m in April, compared to a 0.6% rise, revised from 0.4% in March, missing expectations of a 0.4% rise, while rising 0.4% y/y, compared to a 4.3% drop in the previous yearly reading. 

Federal Reserve Bank of Atlanta President Raphael Bostic spoke earlier today at the Florida Prosperity Partnership Annual Statewide Training Conference, in Orlando, while Federal Reserve Governor Lael Brainard spoke about the economic outlook and monetary policy at the Forecaster's Club of New York Luncheon.