Sterling trades below 1.3 vs. dollar for third consecutive session

Sterling tilted lower against the dollar in American trade following earlier data from Britain and the US, the world's largest economy.

As of 04:05 GMT, GBP/USD fell to 1.2946 from the opening of 1.2972, with an intraday low at 1.2932, and a high at 1.3015. 

Earlier British data showed the second reading for GDP growth in the first quarter at 0.2%, down from 0.3% in the first reading, while marking a 2.0% growth on a yearly basis, down from 2.1%, as business investments rose past expectations in the same quarter, while mortgage approvals declined in April. 

Otherwise, U.S. unemployment claims rose less than expected last week, while the goods trade deficit widened unexpectedly in April, after the Federal Reserve released the minutes from the May 2-3 meeting, at which policymakers opted to hold interest rates at a range of 75% and 1%. 

Investors now await the second reading for US GDP growth for the first quarter, expected to show a 0.9% growth, up from 0.7% in the preliminary reading, the lowest in three years, which made the Fad delay increasing interest rates in the May meeting to make sure the slowdown was transitory and not structural.