Investing.com - The pound remained lower against the U.S. dollar on Wednesday, after Bank of England Governor, Mark Carney, said further stimulus measures could be added and as concerns over military action in Syria continued to dampen investor confidence.
GBP/USD hit 1.5429 during U.S. morning trade, the pair's lowest since August 14; the pair subsequently consolidated at 1.5531, slipping 0.09%.
Cable was likely to find support at 1.5429, the session low and resistance at 1.5592, Tuesday's high.
In a speech to business leaders in Nottingham, England, Carney said the BoE was ready to add stimulus if investor expectations for higher interest rates rise too far and undermine the U.K.'s economic recovery.
Earlier in the month, Carney said BoE policy makers plan to keep the benchmark interest rate at a record-low 0.5% for at least three years.
However, recent indications of strengthening U.K. growth have prompted investors to speculate over a rise in interest rates sooner than expected.
Meanwhile, market sentiment remained under pressure amid growing indications that the U.S. and its allies were preparing to launch a military strikes against the Syria following the alleged use of chemical weapons.
British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria and "authorizing necessary measures to protect civilians" on Wednesday. The resolution was to be put forward at a meeting of the UN Security Council later in the day.
Sterling was higher against the euro with EUR/GBP shedding 0.40%, to hit 0.8581.
In the U.S., industry data showed that pending home sales declined 1.3% in July, more than the expected 0.5% fall, after a 0.4% loss the previous month.
GBP/USD hit 1.5429 during U.S. morning trade, the pair's lowest since August 14; the pair subsequently consolidated at 1.5531, slipping 0.09%.
Cable was likely to find support at 1.5429, the session low and resistance at 1.5592, Tuesday's high.
In a speech to business leaders in Nottingham, England, Carney said the BoE was ready to add stimulus if investor expectations for higher interest rates rise too far and undermine the U.K.'s economic recovery.
Earlier in the month, Carney said BoE policy makers plan to keep the benchmark interest rate at a record-low 0.5% for at least three years.
However, recent indications of strengthening U.K. growth have prompted investors to speculate over a rise in interest rates sooner than expected.
Meanwhile, market sentiment remained under pressure amid growing indications that the U.S. and its allies were preparing to launch a military strikes against the Syria following the alleged use of chemical weapons.
British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria and "authorizing necessary measures to protect civilians" on Wednesday. The resolution was to be put forward at a meeting of the UN Security Council later in the day.
Sterling was higher against the euro with EUR/GBP shedding 0.40%, to hit 0.8581.
In the U.S., industry data showed that pending home sales declined 1.3% in July, more than the expected 0.5% fall, after a 0.4% loss the previous month.