Investing.com - The pound was steady close to three-week lows against the dollar on Thursday as hopes for a breakthrough in resolving the political deadlock in Washington supported the dollar.
GBP/USD hit 1.5914 during European morning trade, the lowest since September 18; the pair subsequently consolidated at 1.5937, slipping 0.12%.
Cable was likely to find support at 1.5885, the low of September 17 and resistance at 1.6015.
Hopes that the partial U.S. government shutdown may soon end received a boost from news that House Republican leaders were to hold their first meeting with President Barack Obama since the shutdown began later on Thursday.
President Obama has demanded Republicans raise the U.S. debt ceiling and reopen the government before negotiations on future fiscal policy can take place. The U.S. risks a sovereign debt default if the government borrowing limit is not raised by 17 October.
The dollar received an additional boost after the minutes of the Federal Reserve’s latest meeting showed that most policymakers were still in favor of tapering stimulus this year.
The minutes from the Fed’s September meeting said the decision not to begin tapering stimulus was a "close call," fuelling expectations that the bank will begin to roll back bond purchases in the next few months.
President Obama announced his nomination of Federal Reserve Vice Chairwoman Janet Yellen to head the U.S. central bank on Wednesday, easing uncertainty over U.S. monetary policy.
Sterling was almost unchanged against the euro, with EUR/GBP inching up 0.02% to 0.8476.
The European Central Bank was to publish its monthly bulletin later Thursday, while the Bank of England was to announce its benchmark interest rate.
GBP/USD hit 1.5914 during European morning trade, the lowest since September 18; the pair subsequently consolidated at 1.5937, slipping 0.12%.
Cable was likely to find support at 1.5885, the low of September 17 and resistance at 1.6015.
Hopes that the partial U.S. government shutdown may soon end received a boost from news that House Republican leaders were to hold their first meeting with President Barack Obama since the shutdown began later on Thursday.
President Obama has demanded Republicans raise the U.S. debt ceiling and reopen the government before negotiations on future fiscal policy can take place. The U.S. risks a sovereign debt default if the government borrowing limit is not raised by 17 October.
The dollar received an additional boost after the minutes of the Federal Reserve’s latest meeting showed that most policymakers were still in favor of tapering stimulus this year.
The minutes from the Fed’s September meeting said the decision not to begin tapering stimulus was a "close call," fuelling expectations that the bank will begin to roll back bond purchases in the next few months.
President Obama announced his nomination of Federal Reserve Vice Chairwoman Janet Yellen to head the U.S. central bank on Wednesday, easing uncertainty over U.S. monetary policy.
Sterling was almost unchanged against the euro, with EUR/GBP inching up 0.02% to 0.8476.
The European Central Bank was to publish its monthly bulletin later Thursday, while the Bank of England was to announce its benchmark interest rate.