Investing.com - The pound edged higher against the U.S. dollar on Friday, after the release of strong U.S. economic data, but gains were capped by expectations for the Federal Reserve to begin scaling back its asset purchases in the coming months.
GBP/USD hit 1.6393 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6363, adding 0.17%.
Cable was likely to find support at 1.6278, the low of November 28 and resistance at 1.6442, the high of December 2 and a 27-month high.
In a preliminary report, the University of Michigan said its consumer sentiment index increased to 82.5 in December, from a reading of 75.1 the previous month, compared to expectations for a rise to 76.0.
The data came after the Department of Labor said the U.S. economy added 203,000 jobs in November, exceeding expectations for a 180,000 increase, after a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
In the U.K.S, industry data earlier showed that house price inflation rose 1.1% in November, beating expectations for a 0.6% increase, after an upwardly revised 1.3% rise the previous month.
Sterling was steady against the euro, with EUR/GBP dipping 0.04% to 0.8363.
Also Friday, official data showed that German factory orders fell 2.2% in October, more than the expected 0.6% slip, after a downwardly revised 3.1% increase the previous month.
GBP/USD hit 1.6393 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6363, adding 0.17%.
Cable was likely to find support at 1.6278, the low of November 28 and resistance at 1.6442, the high of December 2 and a 27-month high.
In a preliminary report, the University of Michigan said its consumer sentiment index increased to 82.5 in December, from a reading of 75.1 the previous month, compared to expectations for a rise to 76.0.
The data came after the Department of Labor said the U.S. economy added 203,000 jobs in November, exceeding expectations for a 180,000 increase, after a downwardly revised 200,000 rise the previous month.
In the private sector, 196,000 jobs were added last month, compared to expectations for a 180,000 rise, after an increase of 214,000 in October.
The report also said the U.S. unemployment rate fell to 7.0% in November, from 7.3% in October, beating expectations for a downtick to 7.2%.
In the U.K.S, industry data earlier showed that house price inflation rose 1.1% in November, beating expectations for a 0.6% increase, after an upwardly revised 1.3% rise the previous month.
Sterling was steady against the euro, with EUR/GBP dipping 0.04% to 0.8363.
Also Friday, official data showed that German factory orders fell 2.2% in October, more than the expected 0.6% slip, after a downwardly revised 3.1% increase the previous month.