Investing.com - The pound edged lower against the U.S. dollar in quiet trade on Monday, as demand for the greenback remained broadly supported, while Friday's U.K. data continued to weigh.
GBP/USD hit 1.5629 during European morning trade, the session low; the pair subsequently consolidated at 1.5646, slipping 0.08%.
Cable was likely to find support at 1.5588, the low of November 19 and resistance at 1.5737, the high of November 20.
Demand for the dollar continued to be underpinned after the minutes of the Federal Reserve's October meeting indicated last week that officials believe the economic recovery is strong enough to withstand external threats to growth, but offered little additional clarity about when rates could start to rise.
The Fed wound up its asset purchasing stimulus program last month and is expected to start raising rates around September 2015.
The pound weakened on Friday after the U.K. Office for National Statistic said that public sector net borrowing rose by £7.05 billion in October, after a revised increase of £10.57 billion the previous month.
Analysts had expected public sector net borrowing to rise by £6.90 billion.
Sterling was lower against the euro, with EUR/GBP adding 0.16% to 0.7928.
In the euro zone, the German research institute Ifo said its Business Climate Index rose to 104.7 this month, above forecasts for 103.0 and up from a reading of 103.2 in October.