Sterling tumbles to 20-month lows on Brexit worries

Sterling fell in American trade to April 2017 lows against the dollar following earlier data from Britain and the US, while the impact of UK PM Theresa May's decision to put off a Parliament vote on the Brexit deal continues to reverberate. 

As of 06:06 GMT, GBP/USD shed 0.38% to 1.2513, with a session-high at 1.2639, and a 20-month nadir at 1.2492. 

Earlier UK data showed the unemployment rate steadied at 4.1% in the three months ending October, while average wages rose 3.3%, accelerating from 3.1%. 

The pound remains under severe pressure from fears of an unorganized Brexit, especially after PM Theresa May put off a planned vote on Brexit in Parliament as the government admitted the bill would've been defeated soundly. 

May said no other vote is expected to occur before January 21, while maintaining that the current deal is the best possible outcome. 

US Inflation 

Earlier US data showed producer prices rose 0.1% in November, beating estimates of no change, while slowing down from October's 0.6% increase. 

Core prices, excluding food and fuel, rose 0.3%, beating forecasts of 0.1% and missing estimates of 0.5%.