Traders signal further fall in sterling against dollar

Sterling held its steepest decline in more than six years as data confirmed that the UK economy gained momentum at the end of last year.

Sterling was little changed against the dollar yesterday after falling 3.3% in the previous three days, the biggest drop since June 2009.

UK GDP rose 0.5% in the fourth quarter, up from 0.4% in the three months to September, and in line with the median forecast of economists.