Investing.com – The pound extended its recent rally against the U.S. dollar on Wednesday, hitting a 3-week high after U.K. insurer Prudential Plc abandoned its planned USD 35.5 billion takeover of AIG’s main Asian unit.
GBP/USD hit 1.4769 during early European trade, its highest since May 13; cable subsequently consolidated around 1.4728, advancing 0.54%.
The pair was likely to find resistance at 1.5054, the high of May 10, and support at 1.4229, the low of May 20 and a 14-month low.
Sterling's rally also came ahead of a raft of data on Britain's construction industry, housing market and bank lending.
The pound climbed versus the euro, meanwhile, with GBP/EUR shedding 0.55% to reach 0.8303.
Later Wednesday, the market research firm Markit was due to publish a report on the British construction industry, based on a survey of purchasing managers. The Bank of England was also scheduled to release data on net lending to individuals and final mortgage approvals in Britain.
GBP/USD hit 1.4769 during early European trade, its highest since May 13; cable subsequently consolidated around 1.4728, advancing 0.54%.
The pair was likely to find resistance at 1.5054, the high of May 10, and support at 1.4229, the low of May 20 and a 14-month low.
Sterling's rally also came ahead of a raft of data on Britain's construction industry, housing market and bank lending.
The pound climbed versus the euro, meanwhile, with GBP/EUR shedding 0.55% to reach 0.8303.
Later Wednesday, the market research firm Markit was due to publish a report on the British construction industry, based on a survey of purchasing managers. The Bank of England was also scheduled to release data on net lending to individuals and final mortgage approvals in Britain.