Sterling drops from four-week high against dollar

Sterling swooned nearly one percent in American trade versus the greenback away from October 17 highs, amid a lack of data from Britain and the US today, while eyes shift to the latest developments in the Brexit saga. 

As of 06:25 GMT, GBP/USD dropped 0.96% to 1.2847, with an intraday high at 1.2964, and the lowest since early November at 1.2828. 

UK Prime Minister Theresa May's spokesman said today there's no indication of any ministers with intent to resign, adding that Brexit negotiations with the EU are still ongoing, with issues such as Irish borders still hanging. 

That comes after reports that four ministers are about to resign from May's government to protest the current blueprint for Brexit, after Jo Johnson, a Remainer in the 2016 referendum, resigned from his transportation post and called for a new referendum. 

Jo Johnson is the younger brother of former London mayor Boris Johnson, one of the most prominent faces of the Leave campaign, who resigned last July from his Foreign Minister post to protest May's plans that would maintain strong trade connections with the EU after Brexit. 

Otherwise, the Labor Party is laying the groundwork for staging new elections or even a referendum if May's new Brexit plans were rejected. 

Otherwise, Federal Reserve Bank of San Francisco President Mary Daly spoke about the economic outlook at the Regional Economic Development for Eastern Idaho Conference, earlier today.

The Federal Reserve voted at the November 7-8 meeting to maintain interest rates at below 2.25% as expected by market analysts, while vowing to carry on the path of policy tightening.