Investing.com - The pound remained moderately lower against the U.S. dollar on Friday, as the release of downbeat U.K. data still weighed, although Thursday's positive comments by the Bank of England continued to support sterling near a 27-month high against the greenback.
GBP/USD hit 1.6315 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.6332, slipping 0.07%.
Cable was likely to find support at 1.6198, Wednesday's low and resistance at 1.6450.
Data earlier showed that net lending to individuals in the U.K. rose by GBP1.7 billion in October, after an upwardly revised GBP2.2 billion increase the previous month, compared to expectations for a GBP2.1 billion rise.
But the pound remained supported after the BoE said that risks to financial stability appeared lower as a result of the stronger outlook for growth. However, the bank warned that a sharp rise in interest rates, especially if not associated with rising incomes, could pose a threat to stability.
Sterling was also lower against the euro, with EUR/GBP adding 0.10% to hit 0.8332.
In the euro zone, preliminary data showed that the annual rate of inflation rose to 0.9% in November, from October’s four year low of 0.7%, exceeding expectations for a rise to 0.8%.
A separate report showed that the unemployment rate in the single currency bloc ticked down to 12.1% last month, from 12.2% in September. Analysts had expected the unemployment rate to remain unchanged in October.
The data came after a report showed that German retail sales fell 0.8% last month, confounding expectations for a 0.5% rise, after a 0.2% slip in September.
GBP/USD hit 1.6315 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.6332, slipping 0.07%.
Cable was likely to find support at 1.6198, Wednesday's low and resistance at 1.6450.
Data earlier showed that net lending to individuals in the U.K. rose by GBP1.7 billion in October, after an upwardly revised GBP2.2 billion increase the previous month, compared to expectations for a GBP2.1 billion rise.
But the pound remained supported after the BoE said that risks to financial stability appeared lower as a result of the stronger outlook for growth. However, the bank warned that a sharp rise in interest rates, especially if not associated with rising incomes, could pose a threat to stability.
Sterling was also lower against the euro, with EUR/GBP adding 0.10% to hit 0.8332.
In the euro zone, preliminary data showed that the annual rate of inflation rose to 0.9% in November, from October’s four year low of 0.7%, exceeding expectations for a rise to 0.8%.
A separate report showed that the unemployment rate in the single currency bloc ticked down to 12.1% last month, from 12.2% in September. Analysts had expected the unemployment rate to remain unchanged in October.
The data came after a report showed that German retail sales fell 0.8% last month, confounding expectations for a 0.5% rise, after a 0.2% slip in September.