Investing.com – The pound slipped against the U.S. dollar on Monday, as hopes for a near-term rate hike by the Bank of England dwindled after the bank left rates unchanged at record lows last week.
GBP/USD hit 1.6314 during European early afternoon trade, the daily low; the pair subsequently consolidated at 1.6348, shedding 0.20%.
Cable was likely to find support at 1.6261, last Thursday’s low and resistance at 1.6427, Friday’s high and a 15-month high.
On Thursday, BoE policymakers held interest rates steady at a record low of 0.5%, amid uncertainty over the uneven nature of Britain’s economic recovery.
Data last week showed industrial output unexpectedly suffered its biggest fall since August 2009 in February, while a separate report showed that the services sector picked up in March to grow at its fastest pace in more than a year.
The pound was also lower against the euro, with EUR/GBP easing up 0.02% to hit 0.8841.
Later in the day, the U.K. was to publish industry data on retail sales and house prices while Federal Reserve Governor Janet Yellen was to speak in New York.
GBP/USD hit 1.6314 during European early afternoon trade, the daily low; the pair subsequently consolidated at 1.6348, shedding 0.20%.
Cable was likely to find support at 1.6261, last Thursday’s low and resistance at 1.6427, Friday’s high and a 15-month high.
On Thursday, BoE policymakers held interest rates steady at a record low of 0.5%, amid uncertainty over the uneven nature of Britain’s economic recovery.
Data last week showed industrial output unexpectedly suffered its biggest fall since August 2009 in February, while a separate report showed that the services sector picked up in March to grow at its fastest pace in more than a year.
The pound was also lower against the euro, with EUR/GBP easing up 0.02% to hit 0.8841.
Later in the day, the U.K. was to publish industry data on retail sales and house prices while Federal Reserve Governor Janet Yellen was to speak in New York.