Investing.com - The pound held steady against the U.S. dollar on Monday, hovering close to a 15-month trough as demand for the greenback remained broadly supported by Friday's upbeat U.S. jobs data.
GBP/USD hit session lows of 1.5541 during European late morning trade, the pair's lowest since September 2013, before pulling back to 1.5588.
Cable was likely to find support at 1.5504 and resistance at 1.5697, the high of December 5.
The dollar remained broadly supported after the Labor Department reported on Friday that the U.S. economy added 321,000 jobs in November, far more than the 225,000 forecast by economists and the largest monthly increase in almost three years.
September’s figure was revised up to 243,000 from a previously reported 214,000 and the unemployment rate remained unchanged at a six-year low of 5.8%.
The strong data fuelled to expectations for the Federal Reserve to raise interest rates mid-2015, compared to expectations for September 2015 before the report.
Sterling was higher against the euro, with EUR/GBP shedding 0.25% to 0.7863.
In the euro zone, data earlier showed that German industrial production rose just 0.2% in October, while September’s figure was revised down to 1.1% from 1.4% previously. The data fuelled concerns over the outlook for fourth quarter growth.