Sterling declines for fifth straight session

Sterling fell against dollar for the fifth straight session to near week lows on bets that more Bank of England members will vote to cut rates. 

GBP/USD fell 0.2% to 1.3003, after closing down 0.25% yesterday, hitting week lows at 1.2975. 

The dollar index rose 0.1% for the fifth straight session to near two-month highs at 98.16. 

Risks are mounting in the markets due to the coronavirus spreading from China, while strong US sentiment data continue to bolster the dollar. 

Tomorrow Bank of England will start discussing policies, with analysts expecting more members to vote for a cut to 0.5% as the Brexit deadline nears on January 31.