Investing.com - The pound trimmed gains against the U.S. dollar on Thursday, pulling back from a daily high as downbeat U.S. employment and retail sales data weighed on demand for riskier assets.
GBP/USD pulled back from 1.5368, the daily high to hit 1.5329 during European afternoon trade, still up 0.01%.
Cable was likely to find support at 1.5278, the day’s low and a three-month low and resistance at 1.5469, the high of January 9.
Data showed earlier that the number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 7 rose to 399,000 from 375,000 the previous week.
Analysts had expected U.S. jobless claims to remain unchanged last week at 375,000.
Despite the rise, jobless claims have remained below 400,000, a level historically associated with an improving labor market, in nine of the past ten weeks.
A separate report showed that U.S. retail sales rose less-than-expected in December, while core retail sales declined unexpectedly.
The U.S. Census Bureau said that retail sales rose 0.1% in December, falling short of expectations for a 0.3% increase.
Earlier in the day, the Bank of England held its benchmark interest rate at a record-low 0.50%, where it’s stood since March 2009, in a widely expected move.
The bank also kept the stock of asset purchases financed by the issuance of central bank reserves at GBP275 billion.
Elsewhere, the pound was lower against the euro with EUR/GBP rising 0.36%, to hit 0.8319.
Also Thursday, official data showed that manufacturing production n the U.K. fell unexpectedly in November, while industrial production also declined unexpectedly.
GBP/USD pulled back from 1.5368, the daily high to hit 1.5329 during European afternoon trade, still up 0.01%.
Cable was likely to find support at 1.5278, the day’s low and a three-month low and resistance at 1.5469, the high of January 9.
Data showed earlier that the number of people who filed for unemployment assistance in the U.S. last week rose unexpectedly.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 7 rose to 399,000 from 375,000 the previous week.
Analysts had expected U.S. jobless claims to remain unchanged last week at 375,000.
Despite the rise, jobless claims have remained below 400,000, a level historically associated with an improving labor market, in nine of the past ten weeks.
A separate report showed that U.S. retail sales rose less-than-expected in December, while core retail sales declined unexpectedly.
The U.S. Census Bureau said that retail sales rose 0.1% in December, falling short of expectations for a 0.3% increase.
Earlier in the day, the Bank of England held its benchmark interest rate at a record-low 0.50%, where it’s stood since March 2009, in a widely expected move.
The bank also kept the stock of asset purchases financed by the issuance of central bank reserves at GBP275 billion.
Elsewhere, the pound was lower against the euro with EUR/GBP rising 0.36%, to hit 0.8319.
Also Thursday, official data showed that manufacturing production n the U.K. fell unexpectedly in November, while industrial production also declined unexpectedly.