Investing.com - The pound was almost unchanged against the U.S. dollar on Monday, hovering within close distance of a 15-month trough as demand for the greenback remained broadly supported.
Trading volumes were expected to remain light this week with many investors away for the Christmas holiday and ahead of the New Year's holiday.
GBP/USD hit 1.5618 during European morning trade, the session low; the pair subsequently consolidated at 1.5619, dipping 0.06%.
Cable was likely to find support at 1.5543, the low of December 17 and resistance at 1.5757, the high of December 17.
The dollar remained supported after the Federal Reserve signaled last week that it was on track to raise interest rates next year but said it was taking a patient stance.
The central bank also acknowledged the improvement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment.
The pound showed little reaction to a report on Friday by the Confederation of British Industry showing that its index of realized sales climbed to a 26-year high of 61 this month from 27 in November, blowing bast expectations for an increase to 30.
Sterling was lower against the euro, with EUR/GBP adding 0.28% to 0.7845.
Later in the day, the U.S. was to release on existing home sales.