Sterling tilts lower vs. dollar in American trade

Sterling tilted lower against the dollar in American dollar following a spate of data from Britain and the U.S., the world's largest economy, and ahead of the release of the Federal Open Market Committee's last meeting minutes.
 
As of 05:48 GMT, GBP/USD fell to 1.2458 from the opening of 1.2472, with a session-low at 1.2422, and a high at 1.2507.
 
Earlier U.K. data showed the second reading for the GDP stating a growth of 0.7% in the fourth quarter, up from 0.6% in the first reading, while on a yearly basis, growth slowed down to 2.0% from 2.2%.

The second reading for U.K. consumer spending showed it growing 0.7% in the same quarter, up from no-change in the first quarter, and beating expectations of 0.6%, while government spending rose 0.2%, compared to zero in the previous reading and above expectations of a 0.1% rise.

British exports rose 4.1%, compared to a 2.6% tumble in the previous reading, and besting expectations of a 2.0% rise, while imports fell 0.4%, down from a 1.3% rise in the previous reading, and missing expectations of a 0.5% rise.
 
Moving across the Atlantic, earlier data from the world's largest economy showed existing home sales up 3.3% in January to 5.69 million units, compared to a 1.6% fall in December to 5.51 million, and besting expectations of a 1.1% rise to 5.55M, while investors now await the Federal Reserve's last meeting minutes, when policymakers kept overnight interest rates unchanged at between 0.50% and 0.75%, after raising them by 25 basis points in the last meeting of 2016.