Investing.com - The pound remained steady close to seven month lows against the dollar on Thursday, after the Bank of England kept monetary policy unchanged at the conclusion of its two-day policy meeting.
GBP/USD was trading at 1.6449 from 1.6451 ahead of the announcement.
Cable was likely to find support at around 1.6380 and resistance at about the 1.65 level.
The BoE voted to keep interest rates on hold at 0.5% and to keep the size of its asset purchase program unchanged at £375 billion.
The minutes of the meeting, due to be published in two weeks, would indicate how many monetary policy committee members voted in favor of a rate hike. The MPC was split last month, with two members voting in favor of a rate increase and two against.
The pound remained under pressure from concerns that support for Scottish independence is gaining momentum ahead of a referendum due to take place on September 18.
The pound touched lows of 1.6438 against the dollar earlier, tracking a decline in the euro, following media reports that the European Central Bank may implement a €500 billion asset-backed securities program at its monetary policy meeting later in the day.
Speculation has been mounting that the ECB will announce quantitative easing measures as a way to stave off deflation after the annual rate of euro area inflation slowed to a five year low of 0.3% last month.
The ECB targets an inflation rate of close to but just below 2%.
Sterling was almost unchanged against the euro, with EUR/GBP trading at 0.7982 from 0.7978 earlier.
Demand for the greenback continued to be underpinned by expectations that the Federal Reserve is growing closer to raising interest rates as recent upbeat economic reports indicated that the U.S. recovery is deepening.
Investors were looking ahead to the latest U.S. employment report, due for release on Friday, for further indications on the strength of the recovery in the labor market, a key factor in deciding the future path of monetary policy.
The U.S. was to release reports on ADP nonfarm payrolls and initial jobless claims later Thursday.