Sterling rose against the dollar on Monday as traders geared up for a busy week of data releases and central bank meetings including at the Bank of England (BoE).

At 1138 GMT, sterling was up 0.24% against the dollar at $1.2578.

The BoE will meet on Thursday for its final policy meeting of 2023. Market participants widely expect no change to the current Bank Rate which stands at a 15-year high of 5.25%.

Market focus has shifted in recent weeks to when the BoE will cut the Bank Rate. Traders expect the British central bank to cut rates at a slower pace than the U.S.'s Federal Reserve.

Elsewhere, manufacturing trade body Make UK said on Monday that Britain's struggling factories are seeing some signs of recovery, helped by a long-awaited burst of restocking and a pickup in export orders that could help the sector in a challenging 2024.

Source : Reuters