Investing.com - The pound was steady against the dollar on Monday amid expectations that the Federal Reserve would keep its stimulus policies in place for longer after the U.S. government shutdown.
GBP/USD hit 1.6181 during European morning trade, the session high; the pair subsequently consolidated at 1.6173, inching up 0.04%.
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 dollar remained under pressure as concerns over the impact of the 16-day shutdown on the U.S. economic recovery fuelled expectations that the Fed would delay plans for rolling back its asset purchase program until at least the beginning of next year.
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 on Monday 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.
Elsewhere, sterling was slightly higher against the euro, with EUR/GBP slipping 0.14% to 0.8451.
In the euro zone, data on Monday showed that German producer price inflation rose 0.3% from a month earlier in September, better than expectations for a 0.1% increase.
The U.S. was to release private sector data on existing home sales later Monday.
GBP/USD hit 1.6181 during European morning trade, the session high; the pair subsequently consolidated at 1.6173, inching up 0.04%.
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 dollar remained under pressure as concerns over the impact of the 16-day shutdown on the U.S. economic recovery fuelled expectations that the Fed would delay plans for rolling back its asset purchase program until at least the beginning of next year.
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 on Monday 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.
Elsewhere, sterling was slightly higher against the euro, with EUR/GBP slipping 0.14% to 0.8451.
In the euro zone, data on Monday showed that German producer price inflation rose 0.3% from a month earlier in September, better than expectations for a 0.1% increase.
The U.S. was to release private sector data on existing home sales later Monday.