Sterling slides to lowest in four sessions

Sterling fell on Friday to its lowest in four sessions as the dollar kept rising against main currencies to an eight-month peak, heaping pressure on the pound. 

GBP/USD last traded at 1.2210, down from the opening of 1.2253, with an intraday high at 1.2256, and a low at 1.2171. 

Sterling's drop comes as the dollar dips and investments head to dollar's markets as expectations point to higher Fed interest rates this December 

The pound failed to rise recently after Bank of England's members indicated to the benefits from the weak pound on the economy, which offset Britain's exit from the European Union. 

The dollar index, tracking the greenback's performance against a basket of six major peers, rose to 98.76 from the opening of 98.30, with an intraday low at 98.30, and an eight-month high at 98.77, heading for the fourth weekly profit in a row.