Investing.com - The pound continued to trade near seven-month lows against the U.S. dollar on Friday, as demand for sterling weakened after the Bank of England kept monetary policy unchanged at the conclusion of its policy meeting on Thursday.
GBP/USD hit 1.6287 during European morning trade, the pair's lowest since February; the pair subsequently consolidated at 1.6319, easing 0.06%.
Cable was likely to find support at 1.6250 and resistance at 1.6465, Thursday's high.
The pound came under broad selling pressure on Thursday after the BoE voted to keep interest rates on hold at 0.5% and to keep the size of its asset purchase program unchanged at £375 billion.
The minutes of the meeting, due to be published in two weeks, would indicate how many monetary policy committee members voted in favor of a rate hike. The MPC was split last month, with two members voting in favor of a rate increase and two against.
Demand for sterling also weakened amid concerns that support for Scottish independence is gaining momentum ahead of a referendum due to take place on September 18.
Meanwhile, the dollar remained supported by expectations that the Federal Reserve is growing closer to raising interest rates.
Investors were looking ahead to the latest U.S. employment report, due later on Friday, for further indications on the strength of the recovery in the labor market, a key factor in deciding the future path of monetary policy.
Sterling was lower higher against the euro, with EUR/GBP edging up 0.08% to 0.7933.