Investing.com – The pound extended gains versus the U.S. dollar on Monday, hitting a fresh daily high following the release of mixed European economic data and amid lingering fears over the euro zone debt crisis.
During European afternoon trade, GBP/USD hit a fresh daily high of 1.4531; the pair subsequently consolidated at 1.4518, gaining 0.41%.
The pair was likely to find support at 1.4229, the low of May 20, and resistance at 1.4917, the high of May 13.
The pound’s gains came as industry data showed that house prices in the U.K. rose in May for the 10th consecutive month, as a shortage of properties allowed estate agents to increase prices.
Meanwhile, sterling was also up against the euro, with EUR/GBP shedding 0.16% to hit 0.8473.
Also Monday, Eurostat, the EU statistics agency, said its consumer price index for the region rose 1.6% during the month from a year earlier, after an increase of 1.5% in March.
During European afternoon trade, GBP/USD hit a fresh daily high of 1.4531; the pair subsequently consolidated at 1.4518, gaining 0.41%.
The pair was likely to find support at 1.4229, the low of May 20, and resistance at 1.4917, the high of May 13.
The pound’s gains came as industry data showed that house prices in the U.K. rose in May for the 10th consecutive month, as a shortage of properties allowed estate agents to increase prices.
Meanwhile, sterling was also up against the euro, with EUR/GBP shedding 0.16% to hit 0.8473.
Also Monday, Eurostat, the EU statistics agency, said its consumer price index for the region rose 1.6% during the month from a year earlier, after an increase of 1.5% in March.