Investing.com - The pound traded higher against the dollar on Wednesday after the minutes from the Bank of England's August policy meeting revealed hawkish takes on interest rates among monetary authorities.
In U.S. trading on Wednesday, GBP/USD was trading up 0.09% at 1.6632 up from a session low of 1.6602 and off a high of 1.6679.
Cable was likely to find support at 1.6556, the low from April 7, and resistance at 1.6738, Monday's high.
Sterling rose from four-month lows against the dollar earlier after the minutes of the Bank of England's August meeting revealed that some U.K. monetary authorities favored raising interest rates.
Ian McCafferty and Martin Weale voted to raise the bank rate by 25 basis points to 0.75%, while the remaining seven Monetary Policy Committee (MPC) members voted to keep monetary policy unchanged.
It was the first time that the MPC has been split over interest rates since 2011.
The minutes revived expectations that the BoE could hike rates in the coming months as the economic recovery in the U.K. continues gain momentum.
The Federal Reserve is due to release the minutes from its latest meeting later in the session, though the BoE minutes served as the pair's chief steering current in early afternoon trading.
Elsewhere, sterling was up against the euro, with EUR/GBP down 0.36% at 0.7987, and up against the yen, with GBP/JPY up 0.53% at 171.92.
On Thursday, the U.K. is to release data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.
The U.S. is to produce data on unemployment claims, manufacturing activity and existing home sales.
The first day of the annual economic symposium is due to take place in Jackson Hole, Wyoming.