Sterling rebounds from one-week low against dollar

Sterling tilted higher in American trade away from April 12 lows against the dollar, following earlier data from Britain and the US, and ahead of speeches by Bank of England Deputy Governor Jon Cunliffe at the Global Finance Forum, in Washington DC and Federal Reserve Bank of Cleveland President Loretta Mester.

As of 03:17 GMT, GBP/USD rose 0.10% to 1.4217 from the opening of 1.4203, with an intraday high at 1.4246, and a week low at 1.4161. 

Earlier UK data showed retail sales fell 1.2% in March, compared to a 0.8% rise in February, and missing expectations of a 0.5% dip, while on a yearly basis, sales slowed down to 1.1% from 1.5%, missing forecasts of 1.9%.

Federal Reserve Governor Lael Brainard spoke earlier today about regulatory reform at the Global Finance Forum, in Washington DC, where she noted that inflation rates remain stable with no sign of imbalance. 

Brainard cautioned from a new economic stage where assets and financial leverages rise, before earlier US data showed unemployment claims fell 1 thousand to 232 thousand from 233 thousand, above expectations of 230K. 

The Philly Manufacturing Index rose to 23.2 from 22.3 in March, beating expectations of 20.8, while Federal Reserve Governor Randal Quarles testified on supervision and regulation before the Senate Banking Committee, in Washington D, where he said cryptocurrencies don't represent threats to financial stability, while calling on small banks to come up with new rules to financial liquidity.