Investing.com - The pound remained lower against the U.S. dollar on Thursday, after disappointing U.S. jobless claims data and as the minutes of the Federal Reserve's latest meeting indicated that policymakers remain divided on when to start scaling back the bank's stimulus program.
GBP/USD hit 1.5562 during U.S. morning trade, the pair's lowest since August 15; the pair subsequently consolidated at 1.5577, declining 0.53%.
Cable was likely to find support at 1.5510, the low of August 15 and resistance at 1.5696, the high of August 20.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose by 13,000 to a seasonally adjusted 336,000, slightly higher than forecasts for 330,000.
On Wednesday, the minutes of the Fed’s July meeting showed that officials were "broadly comfortable" with plans to start unwinding the bank’s USD85 billion-a-month bond buying program.
However, officials remain divided over the timing of possible reduction, with almost all committee members agreeing that a change in the asset purchase program was not yet appropriate.
The minutes described recent U.S. economic data as “mixed”, indicating that plans to taper could be pushed back if the economy was to weaken.
Sterling was lower against the euro with EUR/GBP rising 0.34%, to hit 0.8557.
Also Thursday, data showed that manufacturing activity in the euro zone expanded at the fastest pace in 26 months in August.
The flash euro zone manufacturing purchasing managers’ index rose to 51.3 from a final reading of 50.3 in July. Analysts had expected the index to inch up to 50.8.
Meanwhile, the flash euro zone services PMI rose to a 24-month high of 51.0 from 49.8 in July, better than expectations for a reading of 50.2.
Germany’s manufacturing PMI rose to a 25 month high of 52.0, while the country’s services PMI rose to a six-month high of 52.4.
GBP/USD hit 1.5562 during U.S. morning trade, the pair's lowest since August 15; the pair subsequently consolidated at 1.5577, declining 0.53%.
Cable was likely to find support at 1.5510, the low of August 15 and resistance at 1.5696, the high of August 20.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose by 13,000 to a seasonally adjusted 336,000, slightly higher than forecasts for 330,000.
On Wednesday, the minutes of the Fed’s July meeting showed that officials were "broadly comfortable" with plans to start unwinding the bank’s USD85 billion-a-month bond buying program.
However, officials remain divided over the timing of possible reduction, with almost all committee members agreeing that a change in the asset purchase program was not yet appropriate.
The minutes described recent U.S. economic data as “mixed”, indicating that plans to taper could be pushed back if the economy was to weaken.
Sterling was lower against the euro with EUR/GBP rising 0.34%, to hit 0.8557.
Also Thursday, data showed that manufacturing activity in the euro zone expanded at the fastest pace in 26 months in August.
The flash euro zone manufacturing purchasing managers’ index rose to 51.3 from a final reading of 50.3 in July. Analysts had expected the index to inch up to 50.8.
Meanwhile, the flash euro zone services PMI rose to a 24-month high of 51.0 from 49.8 in July, better than expectations for a reading of 50.2.
Germany’s manufacturing PMI rose to a 25 month high of 52.0, while the country’s services PMI rose to a six-month high of 52.4.