Sterling rose above $1.33 on Thursday as the dollar fell across the board, with traders identifying little in the way of UK-specific drivers as worries about an Italian political crisis and new U.S. trade tariffs dominated market trading.

The pound traded up 0.4 percent at $1.3334, moving away from six-month lows of $1.3205 hit on Tuesday. It later gave up some of those gains to trade flat at $1.3288 by 1510 GMT.

Analysts said the pound was taking its cue from elsewhere until business surveys for May – beginning on Friday with manufacturing – are published and should give investors a sense of how the UK economy is faring in the second quarter after a shaky start to 2018.

Official data published on Thursday showing a rebound in consumer credit in April failed to move the pound