Sterling declines for first time in five sessions against dollar

Sterling fell against the dollar in American trade away from February 5 highs, following earlier data from Britain and the US, the world's largest economy. 

As of 04:57 GMT, GBP/USD fell 0.31% to 1.4055 from the opening of 1.4099, with an intraday high at 1.4145, and a low at 1.4006. 

Earlier UK data showed retail sales rose 0.1%, compared to a 1.4% drop in December, revised from 1.5%, while analysts expected a 0.5% rise. 

On a yearly basis, sales rose 1.5%, up from 1.5% in December, and below expectations of a 2.5% rise. 

Core retail sales, excluding fuel, rose 0.1% m/m, compared to a 1.5% drop in December, and missing expectations of a 0.6% rise, while rising 1.5% on a yearly basis, up from 1% in the previous reading, and below forecasts of 2.4%. 

Earlier US data showed housing starts rose 9.6% to 1.326 million in January, compared to a 6.9% drop to 1.209 million in December, beating expectations of a 3.5% rise to 1.234 million units. 

Building permits rose 7.4% to 1.396 million, compared to a 0.2% dip to 1.300 million, while analysts expected a 0.7% dip to 1.290 million. 

US import prices rose 1.0% in January, up from a 0.2% rise in December, and beating forecasts of 0.6%. 

University of Michigan released its consumer sentiment survey for February, showing a rise to 99.9 from January's 95.7, beating expectations of a dip to 95.4. 

The economic conditions gauge in the same survey rose to 115.1 from 110.5 in January, while economic outlook rose to 90.2 from 86.3.