Sterling inches down on profit-taking

Sterling retreated mildly in European trade against a basket of major rivals off two-week highs against dollar on profit-taking, after marking the largest profit in three months yesterday. 

As of 08:15 GMT, GBP/USD shed 0.15% to 1.3040, with an intraday high at 1.3076, and a low at 1.3032. 

Sterling rose 1.1% on Tuesday, the third profit in a row, and the largest since November 1. 

The dollar index is trading at two-week lows after marking the fourth daily loss in a row with a drop in 10-year treasury yields.

Now investors await the Federal Reserve's meeting minutes for the January 29-30 meeting, at which policymakers voted to hold rates unchanged below 2.50%.