Sterling loses ground versus dollar as Fed releases minutes

Sterling fell in American trade versus the greenback following a basket of data from Britain and the US today, including statements by UK Prime Minister Theresa May on Brexit. 

As of 05:17 GMT, GBP/USD shed 0.36% to 1.2779, with an intraday low at 1.2756, and a high at 1.2850. 

Earlier UK data showed net lending to individuals rose to 5 billion pounds, above estimates of 4.5 billion, while mortgage approvals rose to 67 thousand from 66K. 

The M4 money supply rose 0.7%, compared to a 0.3% drop in September, while Theresa May said in earlier remarks that Bank of England's latest report analyzing the Brexit deal asserts how such an agreement is the best path to go forward for the economy.  

May added if the Parliament voted against the deal, her government will start taking practical steps for the no deal scenario, while noting the EU will not accept any other deal. 

US Housing, Labor Data 

Earlier US data showed pending home sales fell 2.6% m/m in October, compared to a 0.7% increase in September, while analysts estimated a 0.8% increase. 

On a yearly basis, sales slid 4.6%, compared to a 3.3% drop in October, while analysts expected a 2.8% decline. 

US personal income rose 0.5% in October, beating estimates of 0.4% and improving above September's 0.2% increase. 

Personal spending rose 0.6% in October, beating forecasts of 0.4%, and improving upon September's 0.2% increase, which was revised from 0.4%. 

Unemployment claims for the week ending November 24 rose by 10 thousand to a total of 234 thousand, while continuing claims for the week ending November 17 rose by 50 thousand to 1.710 million.