Sterling rebounds from week lows against dollar

Sterling rose in American trade off December 20 lows for another session, heading for the second weekly profit in a row, following US housing data. 

As of 05:41 GMT, GBP/USD rose 0.39% to 1.2693, with an intraday high at 1.2707, and a low at 1.2635. 

UK foreign minister Jeremy Hunt said in earlier remarks the Parliament could ratify the Brexit agreement reached by Theresa May if the EU made further clarification to the Backstop plan. 

Conversely, Opposition Leader Jeremy Corbyn asked Prime Minister Theresa May to call Parliament next month to vote on her deal as is, adding that May and her allies are deliberately putting off the vote so that Parliament wouldn't have a chance cut to vote in favor. 

Earlier US data showed the Chicago PMI receded to 65.4 from 66.4 in November, still edging estimates of 61.4. 

US pending home sales fell 0.7% m/m in November, improving on a 2.6% monthly drop in October, while still missing expectations of a 1% increase, as sales fell 7.7% y/y, sharpening a 4.7% yearly drop in October.