Investing.com - The pound was trading near one-week lows against the U.S. dollar on Thursday, as demand for the safe-haven greenback remained supported after the release of mixed U.S. economic reports.
GBP/USD hit 1.6414 during U.S. morning trade, the pair's lowest since Decener 27; the pair subsequently consolidated at 1.6442, declining 0.71%.
Cable was likely to find support at 1.6351, the low of December 26 and resistance at 1.6604, the session high and a 29-month high.
In a report, the Institute for Supply Management said its index of purchasing managers dipped to 57.0 last month from a reading of 57.3 in November, still holding near the fastest rate since April 2011.
The greenback strengthened earlier, after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 28 declined by 2,000 to a seasonally adjusted 339,000.
Analysts had expected U.S. jobless claims to fall by 7,000 to 334,000 last week from the previous week’s revised total of 341,000.
Earlier Thursday, Markit said the U.K. manufacturing PMI fell to 57.3 last month from a reading of 58.1 in November. Analysts had expected the manufacturing PMI to ease down to 58.0 in December.
Sterling was steady against the euro, with EUR/GBP easing 0.06% to 0.8303.
In the euro zone, Markit research group said its final manufacturing purchasing managers' index for the bloc remained unchanged at 52.7 last month, in line with expectations.
A separate report showed that Germany's manufacturing PMI rose to a 30-month high of 54.3 in December, from a reading of 54.2 the previous month. Analysts had expected the index to remain unchanged last month.
France's manufacturing PMI fell to a seven-month low of 47.0 in December, from 47.1 in November, compared to expectations for the index to remain unchanged.
GBP/USD hit 1.6414 during U.S. morning trade, the pair's lowest since Decener 27; the pair subsequently consolidated at 1.6442, declining 0.71%.
Cable was likely to find support at 1.6351, the low of December 26 and resistance at 1.6604, the session high and a 29-month high.
In a report, the Institute for Supply Management said its index of purchasing managers dipped to 57.0 last month from a reading of 57.3 in November, still holding near the fastest rate since April 2011.
The greenback strengthened earlier, after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 28 declined by 2,000 to a seasonally adjusted 339,000.
Analysts had expected U.S. jobless claims to fall by 7,000 to 334,000 last week from the previous week’s revised total of 341,000.
Earlier Thursday, Markit said the U.K. manufacturing PMI fell to 57.3 last month from a reading of 58.1 in November. Analysts had expected the manufacturing PMI to ease down to 58.0 in December.
Sterling was steady against the euro, with EUR/GBP easing 0.06% to 0.8303.
In the euro zone, Markit research group said its final manufacturing purchasing managers' index for the bloc remained unchanged at 52.7 last month, in line with expectations.
A separate report showed that Germany's manufacturing PMI rose to a 30-month high of 54.3 in December, from a reading of 54.2 the previous month. Analysts had expected the index to remain unchanged last month.
France's manufacturing PMI fell to a seven-month low of 47.0 in December, from 47.1 in November, compared to expectations for the index to remain unchanged.