Investing.com – The pound was down against the U.S. dollar on Monday, hitting a daily low, as the U.S. dollar staged a broad rally, trimming Friday's losses.
GBP/USD hit 1.5750 during early European trade, a daily low; the pair subsequently consolidated at 1.5774, shedding 0.26%.
Cable was likely to find short-term support at 1.5668, last Thursday's low and resistance at 1.5922, last Thursday's high.
On Friday, data showed that manufacturing activity in the U.K. declined unexpectedly in September, falling to a 10-month low.
In a report, market research group Markit said that its U.K. manufacturing PMI fell to a seasonally adjusted 53.4 in September, after dropping to a revised 53.7 in August. Analysts had expected the manufacturing PMI to increase to 53.9 in September.
Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.21% to hit 0.8699.
Later in the day the U.S. was to publish official data on pending home sales while Fed chairman Ben Bernanke was to make a speech.
GBP/USD hit 1.5750 during early European trade, a daily low; the pair subsequently consolidated at 1.5774, shedding 0.26%.
Cable was likely to find short-term support at 1.5668, last Thursday's low and resistance at 1.5922, last Thursday's high.
On Friday, data showed that manufacturing activity in the U.K. declined unexpectedly in September, falling to a 10-month low.
In a report, market research group Markit said that its U.K. manufacturing PMI fell to a seasonally adjusted 53.4 in September, after dropping to a revised 53.7 in August. Analysts had expected the manufacturing PMI to increase to 53.9 in September.
Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.21% to hit 0.8699.
Later in the day the U.S. was to publish official data on pending home sales while Fed chairman Ben Bernanke was to make a speech.