Sterling sharpens decline as dollar rebounds

Sterling kept falling on Tuesday for the second session on profit-taking, after hitting a seven-month peak earlier this week, while the dollar continued to recover. 

GBP/USD last traded at 1.2936, down from the opening of 1.2940, with a session-high at 1.2960, and a low at 1.2906. 

Profit-taking operations on major currencies, adding to expectations of a Federal Reserve rate hike in June, buoyed the dollar and heaped pressure on the pound. 

As for British opinion polls regarding the early elections, it still shows the Conservatives in the lead with 47% of the vote, while Labor got 30%, indicating sustained popularity for Prime Minister Theresa May.