Investing.com – The pound erased gains against the U.S. dollar on Thursday, falling to hit a fresh 9-day low amid rising risk aversion, as uncertainty over the global economic recovery continued.
GBP/USD hit 1.5586 during European morning trade, the pair's lowest since July 30; the pair subsequently consolidated at 1.5600, shedding 0.36%.
Cable was likely to find short-term support at 1.5551, the low of July 30 and resistance at 1.5908, the high of August 10.
Earlier in the day, a verbal intervention by Japanese government officials saw the U.S. dollar briefly ease against the yen but as USD/JPY resumed its slide towards a 15 year low, risk aversion escalated.
The pound was also down against the euro, with EUR/GBP gaining 0.04% to hit 0.8214.
Later in the day, the U.S. was to publish key data on initial jobless claims.
GBP/USD hit 1.5586 during European morning trade, the pair's lowest since July 30; the pair subsequently consolidated at 1.5600, shedding 0.36%.
Cable was likely to find short-term support at 1.5551, the low of July 30 and resistance at 1.5908, the high of August 10.
Earlier in the day, a verbal intervention by Japanese government officials saw the U.S. dollar briefly ease against the yen but as USD/JPY resumed its slide towards a 15 year low, risk aversion escalated.
The pound was also down against the euro, with EUR/GBP gaining 0.04% to hit 0.8214.
Later in the day, the U.S. was to publish key data on initial jobless claims.