Sterling rebounds from 20-month nadir against greenback

Economies.com
2018-12-18 18:04PM UTC

Sterling tilted higher in American trade off April 2017 lows for the fourth session out of five against the greenback, following earlier data from the US. 

 

As of 05:58 GMT, GBP/USD rose 0.21% to 1.2650, with an intraday low at 1.2610, and the highest since December 10 at 1.2706. 

 

Earlier US data showed building permits rose to an annualized 1.33 million units in November, besting estimates of 1.27 million, and compared to October's revised 1.27 million. 

 

US housing starts rose to an annualized 1.26 million units November, beating estimates of 1.23 million, and up from October's revised 1.22 million. 

 

The Federal Open Market Committee is meeting today and tomorrow for the periodic policy meeting, with analysts expected the fourth rate hike of the year to below 2.25%. 

 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates. 

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