Investing.com - The pound was almost unchanged against the U.S. dollar on Wednesday, as markets were jittery ahead of the Federal Reserve's highly anticipated policy statement later in the trading session.
GBP/USD hit 1.5200 during European morning trade, the pair's lowest since July 19; thr pair subsequently consolidated at 1.5231, easing 0.04%.
Cable was likely to find support at 1.5158, the low of July 18 and resistance at 1.5281, the high of July 19.
Investors remained cautious ahead of the Fed's upcoming policy statement, as recent U.S. economic reports fuelled uncertainty on when the central bank could begin to taper its bond-buying program.
On Tuesday, the Conference Board said its index of consumer confidence fell to 80.3 in July, from a reading of 82.1 the previous month, compared to expectations for a decline to 81.4.
A separate report showed that the Standard & Poor's/Case-Shiller Composite-20 house price index rose to an annualized rate of 12.2% in May, from 12.1% the previous month, compared to expectations for an increase to 12.4%.
Market participants were also looking ahead to the Bank of Emgland's monetary policy statement on Thursday.
Sterling was lower against the euro with EUR/GBP adding 0.20%, to hit 0.8721.
Also Wednesday, official data showed that the number of unemployed people in Germany fell by 7,000 in June, after a 13,000 decline the previous month. Analysts had expected the number of unemployed people to fall by 4,000 last month.
Germany's unemployment rate remained unchanged at 6.8% in June, in line with expectations.
A separate report showed that German retail sales declined 1.5% in June, disappointing expectations for a 0.4% rise, after an increase of 0.7% the previous month.
Later in the day, the U.S. was to produce economic growth data, as well as reports on non-farm employment change and manufacturing activity in Chicago.
GBP/USD hit 1.5200 during European morning trade, the pair's lowest since July 19; thr pair subsequently consolidated at 1.5231, easing 0.04%.
Cable was likely to find support at 1.5158, the low of July 18 and resistance at 1.5281, the high of July 19.
Investors remained cautious ahead of the Fed's upcoming policy statement, as recent U.S. economic reports fuelled uncertainty on when the central bank could begin to taper its bond-buying program.
On Tuesday, the Conference Board said its index of consumer confidence fell to 80.3 in July, from a reading of 82.1 the previous month, compared to expectations for a decline to 81.4.
A separate report showed that the Standard & Poor's/Case-Shiller Composite-20 house price index rose to an annualized rate of 12.2% in May, from 12.1% the previous month, compared to expectations for an increase to 12.4%.
Market participants were also looking ahead to the Bank of Emgland's monetary policy statement on Thursday.
Sterling was lower against the euro with EUR/GBP adding 0.20%, to hit 0.8721.
Also Wednesday, official data showed that the number of unemployed people in Germany fell by 7,000 in June, after a 13,000 decline the previous month. Analysts had expected the number of unemployed people to fall by 4,000 last month.
Germany's unemployment rate remained unchanged at 6.8% in June, in line with expectations.
A separate report showed that German retail sales declined 1.5% in June, disappointing expectations for a 0.4% rise, after an increase of 0.7% the previous month.
Later in the day, the U.S. was to produce economic growth data, as well as reports on non-farm employment change and manufacturing activity in Chicago.