Sterling steadies below 1.3 versus greenback

Sterling tilted higher in American trade following a spate of data from the UK and the US, and ahead of a speech by Fed Chair Jerome Powell later today. 

As of 04:58 GMT, GBP/USD rose 0.11% to 1.2993, with an intraday high at 1.3023, and a low at 1.2963. 

Earlier UK data showed the services PMI receded to 53.0 from 54.3 in August, while UK Prime Minister Theresa May asserted she wouldn't let her country collapse due to the Brexit negotiations. 

Federal Reserve Bank of Richmond President Thomas Barkin delivered a speech titled "The Outlook for Tomorrow: Five Numbers to Watch" at the West Virginia Economic Outlook Conference, where he pointed to strong growth rate and upbeat inflation, adding the Fed will now focus on business investment, labor compensation, and productivity gauges. 

Earlier US data showed private sector employment rose 230 thousand in September, adding to the 168 thousand in August, and beating estimates of 185 thousand. 

US ISM services PMI rose to 61.6 in September from 58.5, beating estimates of 58.0. 

Services PMIs are crucial as two thirds of American GDP are dependent on the services sector, with the readings covering many aspects of the economy such as retail, housing, utilities, healthcare, and finance.