Investing.com - The pound held steady against the U.S. dollar on Wednesday, after the release of upbeat data on U.K. net lending to individuals, as demand for the greenback remained broadly supported ahead of the Federal Reserve's upcoming policy statement.
GBP/USD hit 1.5620 during European morning trade, the session high; the pair subsequently consolidated at 1.5612.
Cable was likely to find support at 1.5526, Tuesday's low and resistance at 1.5672, the high of July 23.
The Bank of England reported on Wednesday that total net lending to individuals increased by ₤3.8 billion last month, above forecasts for ₤3.0 billion and up from ₤3.1 billion in April.
The report also showed that the number of final mortgage approvals rose to 66,580 in June from 64,830 in May. Economists had expected mortgage approvals to rise to 66,000 last month.
Investors were looking ahead to the Fed statement due later Wednesday to see if policymakers would give any indication on the timing of an initial rate hike.
Fed Chair Janet Yellen has said the central bank could raise rates as soon as September if the economy continues to improve as expected.
Sterling was also steady against the euro, with EUR/GBP at 0.7084.