Sterling rose for a second consecutive day against the dollar on Thursday as investors covered some short positions after U.S. Federal Reserve Chair Janet Yellen's testimony knocked the greenback weaker against a broad basket of currencies. Such remarks had pushed sterling above $1.30 at the end of June. It is trading just above a 20-day moving average which it briefly pierced on Wednesday but analysts remain pessimistic about the near-term outlook. Against the euro, it was trading at 88.09 pence, after hitting a eight-month low against the single currency in the previous session. (This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Source: dna July 13, 2017 16:07 UTC