Sterling tests 1-1/5 nadir against dollar

Sterling declined in American trade against the dollar to June 22 lows, following a spate of data from Britain and amid a lack thereof from the US today. 

As of 06:31 GMT, GBP/USD traded at 1.2728, with a session-high at 1.2840, and a low at 1.2659. 

Bank of England Governor Mark Carney testified before Parliament on Brexit, where he noted the banks are ready for the anticipated exit.

Carney added that while the pound experienced sharp swings recently, it's not expected to be as catastrophic again. 

Earlier UK data showed the construction PMI rose to 53.4 from 53.2 in October, while analysts expected 52.5. 

Federal Reserve Bank of New York President John Williams isheld a press conference about local employment and labor force trends at the Federal Reserve Bank of New York, earlier today.  

A scheduled Congress testimony by Fed Chair Jerome Powell tomorrow Wednesday was delayed after President Donald Trump declared the day an official holiday in honor of late President George H.W Bush. 

Later this week, Powell will speak about the economy and rural America at the Housing Assistance Council's annual event, in Washington DC, while the payrolls report is expected to show no change in the unemployment rate at 3.7%.