Investing.com - The pound trimmed losses against the U.S. dollar on Monday, after the release of downbeat U.S. housing data, as investors awaited a string of additional U.S. economic reports later in the week to evaluate the impact the recent government shutdown had on the economy.
GBP/USD pulled away from 1.6133, the session low, to hit 1.6164 during U.S. morning trade, still down 0.02%.
Cable was likely to find support at 1.6080 and resistance at 1.6259, the high of October 1 and a nine-month high.
The U.S. National Association of Realtors said earlier that existing home sales declined 1.9% to a seasonally adjusted 5.29 million units in September from a downwardly revised 5.39 million in August.
The dollar gained some ground eariler, after falling sharply against the other major currencies last week on concerns over the impact of the 16-day government shutdown on the U.S. economic recovery and whether this may prompt the Fed to delay plans to roll back stimulus measures.
Investors were awaiting U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
In the U.K., a report by property website Rightmove said the average asking price of a home in London jumped by more than fifty thousand pounds in October from the previous month, an increase of more than 10%.
Across England and Wales, house prices rose by a more modest 2.8% Rightmove said.
Sterling was steady against the euro with EUR/GBP easing 0.06% to 0.8459.
In the euro zone, data showed that German producer price inflation rose 0.3% from a month earlier in September, better than expectations for a 0.1% increase.
GBP/USD pulled away from 1.6133, the session low, to hit 1.6164 during U.S. morning trade, still down 0.02%.
Cable was likely to find support at 1.6080 and resistance at 1.6259, the high of October 1 and a nine-month high.
The U.S. National Association of Realtors said earlier that existing home sales declined 1.9% to a seasonally adjusted 5.29 million units in September from a downwardly revised 5.39 million in August.
The dollar gained some ground eariler, after falling sharply against the other major currencies last week on concerns over the impact of the 16-day government shutdown on the U.S. economic recovery and whether this may prompt the Fed to delay plans to roll back stimulus measures.
Investors were awaiting U.S. data releases later in the week after the shutdown delayed the release of some key economic reports. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, was due on Tuesday.
In the U.K., a report by property website Rightmove said the average asking price of a home in London jumped by more than fifty thousand pounds in October from the previous month, an increase of more than 10%.
Across England and Wales, house prices rose by a more modest 2.8% Rightmove said.
Sterling was steady against the euro with EUR/GBP easing 0.06% to 0.8459.
In the euro zone, data showed that German producer price inflation rose 0.3% from a month earlier in September, better than expectations for a 0.1% increase.