Sterling settles higher after Carney's Parliament testimony

Sterling tilted higher in American trade away from December 27 lows against the dollar, following earlier data from Britain and the US. 

As of 04:39 GMT, GBP/USD rose 0.05% to 1.3434 from the opening of 1.3427, with an intraday high at 1.3492, and a low at 1.3413. 

Earlier UK data showed net public borrowing actually fell by 6.2 billion pounds, compared to a 0.8 billion increase in the previous reading, before the British Parliament heard Bank of England Mark Carney's testimony earlier today. 

Carney said he will leave his post after his current term ends in June, with several candidates lining up to succeed him, such as BoE members Andy Haldin, John Cunliffe, Ben Broadbent and others. 

From the US, the Richmond Manufacturing Index rose to 16 in May from 3 in April, beating expectations of 9. 

Now markets await the Federal Open Market Committee's minutes for the May meeting, at which policymakers voted to stay overnight interest rates unchanged at below 1.75%. 

BoE Governor Mark Carny is scheduled to speak on Thursday at the Society of Professional Economists' annual dinner, in London.