Investing.com - The pound slipped to a seven-month low against the U.S. dollar on Monday, after data showed that U.K. net lending to individuals was in line with market expectations last month, as demand for the greenback remained supported by hopes for a December rate hike in the U.S.
GBP/USD hit 1.5002 during European morning trade, the pair's lowest since April 23; the pair subsequently consolidated at 1.5013, down 0.10%.
Cable was likely to find support at 1.4957, the low of April 2 and resistance at 1.5109, Friday's high.
Official data earlier showed that U.K. net lending to individuals rose by £4.8 billion in October, in line with expectations and after a £4.9 billion increase the previous month.
Meanwhile, the dollar remained supported after a string of upbeat U.S. data released over the week added to expectations that the Federal Reserve will raise interest rates next month.
Sterling was steady against the euro, with EUR/GBP at 0.7047.
Sentiment on the euro remained vulnerable as European Central Bank President Mario Draghi has been signaling in recent weeks that the bank is ready to act quickly to boost inflation in the euro zone and can also change the level of its deposit rate to boost the impact of quantitative easing.
Earlier Monday, data showed that German retail sales fell 0.4% in October, compared to expectations for a 0.4% rise and after a flat reading the previous month.