Sterling advances against dollar ahead of the weekend

Sterling gained ground against the dollar, settling near a ten-month high following earlier data from the US, and amid a lack thereof from Britain. 

As of 04:59 GMT, GBP/USD rose 0.44% to 1.3124 from the opening of 1.3066, with an intraday high at 1.3135, and a low at 1.3062. 

Earlier US data showed GDP growth at 2.6% in the second quarter, up from 1.4% in the first quarter, and besting expectations of 2.5%, while the preliminary reading for GDP prices slowed down to 1.0% from 1.9%, missing expectations of 1.3, and finally, the Employment Cost Index slowed down as well more than forecast.  

University of Michigan released its second and final reading for the consumer sentiment survey in July, showing a rise to 93.4 from the preliminary reading of 93.1, besting expectations of 93.2, while below June's reading of 97.1.