Sterling slides for second session against dollar

Sterling dropped against the dollar in American trade following earlier data from Britain and amid a lack thereof from the US, the world's largest economy. 

As of 06:02 GMT, GBP/USD declined 0.44% to 1.3166 from the opening of 1.3108, with an intraday low at 1.3087, and a high at 1.3176. 

Earlier from Britain, Bank of England released its latest survey on business activities, showing stable growth overall and upbeat increases in manufacturing production, backed by gains in exports due to sterling's weakness, and strength in local demand. 

The same survey showed slowed growth in the construction sector, while services employment cycles continued to grow moderately, as housing requests in London were hurt by overblown concerns about Brexit. 

British Brexit minister Stephen Baker said in earlier remarks that the government will need three weeks to release 58 studies on the ramifications of Brexit on the economy. 

Baker said the analyses were being updated and developed to reach a solid body of evaluations towards Brexit across many sections, noting the government will take some time to gather the information and pass it the Parliament.