Sterling rises for second straight session vs. dollar

Sterling rose against the dollar for the second session in a row, following earlier data from the U.S. and Britain. 

GBP/USD rose to 1.2915 from the opening of 1.2896, with an intraday high at 1.2958, and a low at 1.2866. 

Earlier U.K. data showed inflation in April above Bank of England's target for the third month in row, matching the central bank's expectations for a medium inflation of 2.7% this year.

On the same note, Prime Minister Theresa May held to her advantage in recent polls about the early elections on June 7, with 47% of the general vote for Conservatives, while the Labor Party got 33%, and the Liberal Democrats at 7%, and finally UKIP at 5%. 

On another note, earlier U.S. data showed unexpected drops in building permits and housing starts in April, while industrial production rose past expectations last month alongside the Capacity Utilization Rate. 

Otherwise, the Atlanta Federal Reserve upgraded its forecasts for GDP growth in the second quarter to 4.1% from the previous forecast of 3.6%, while upgrading its real state investments forecasts to 8.3% from 6%.