By Samuel Indyk and Tom Westbrook LONDON (Reuters) -The dollar dipped on Thursday while sterling crosses were nursing losses in holiday-thinned trade ahead of the last major data release of the year in Friday’s U.S. inflation figures. Sterling suffered its sharpest drop on the dollar in two months on Wednesday after British inflation dived below forecasts to an annual 3.9% in October, a two-year low. The currency fell 0.7% to $1.2638 as traders priced in Bank of England rate cuts as soon as May. On Thursday it hit a one-week low of $1.2613, before recovering slightly as the dollar softened. It…

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