Sterling pares losses vs dlr after UK mortgage data

LONDON Aug 31 (Reuters) - Sterling pared losses against the dollar after data showed UK mortgage approvals unexpectedly rose in July. The Bank of England said mortgage approvals numbered 48,722 in July, up from an upwardly revised 48,562 in June. Analysts had forecast a reading of 46,500. [ID:nAHLRJE66B]

Sterling rose to around $1.5450 versus the dollar GBP=D4 after the data from $1.5425 just beforehand. It was still down around 0.1 percent on the day but edged above its 200 day moving average around $1.5440.

(Reporting by London Forex Team)