Investing.com - The pound declined against the U.S. dollar on Friday, after the release of disappointing U.K. manufacturing production data, while investors awaited the U.S. nonfarma payrolls report later in the trading session.
GBP/USD hit 1.6404 during European morning trade, the session's low from January 8; the pair subsequently consolidated at 1.6415, retreating 0.40%.
Cable was likely to find support at 1.6338, the low of January 6 and resistance at 1.6498, Thursday's high.
Official data earlier showed that U.K. manufacturing production was flat in November, disappointing expectations for a 0.4% rise, after a downwardly revised 0.2% uptick the previous month.
Meanwhile, investors were eyeing U.S. employment data to be released later in the day, after the Labor Department said the number of people who filed for unemployment assistance last week fell by 15,000 to 330,000 from the previous week’s revised total of 345,000.
Economists had expected jobless claims to decline by 10,000.
Sterling was also lower against the euro, with EUR/GBP rising 0.34% to 0.8283.
Also Friday, data showed that industrial production in France climbed 1.3% in November, exceeding expectations for a 0.4% rise, after a downwardly revised 0.5% decline the previous month.
GBP/USD hit 1.6404 during European morning trade, the session's low from January 8; the pair subsequently consolidated at 1.6415, retreating 0.40%.
Cable was likely to find support at 1.6338, the low of January 6 and resistance at 1.6498, Thursday's high.
Official data earlier showed that U.K. manufacturing production was flat in November, disappointing expectations for a 0.4% rise, after a downwardly revised 0.2% uptick the previous month.
Meanwhile, investors were eyeing U.S. employment data to be released later in the day, after the Labor Department said the number of people who filed for unemployment assistance last week fell by 15,000 to 330,000 from the previous week’s revised total of 345,000.
Economists had expected jobless claims to decline by 10,000.
Sterling was also lower against the euro, with EUR/GBP rising 0.34% to 0.8283.
Also Friday, data showed that industrial production in France climbed 1.3% in November, exceeding expectations for a 0.4% rise, after a downwardly revised 0.5% decline the previous month.