Investing.com – The pound slipped against the U.S. dollar on Wednesday, retreating from a 3-week high it hit in the wake of the U.S. Federal Reserve's renewal of its pledge to keep interest rates low for "an extended period."
GBP/USD slid to 1.5225 during early European trade, shedding 0.12%, after retreating from 1.5269, the pair's highest rate since Feb. 26.
Cable was likely to find support at 1.4781, the low of Feb. 3 and a 10-month low, and resistance at 1.5575, the high of Feb. 23.
Sterling also slipped versus the euro, with EUR/GBP gaining 0.24% to hit 0.9051.
Later in the day, Britain was set to release key unemployment data, and the Bank of England was due to publish the minutes of its Monetary Policy Committee's most recent meeting.
Also Wednesday, the U.S. Labor Department was scheduled to release key inflation data with the publication of its monthly producer price index.
GBP/USD slid to 1.5225 during early European trade, shedding 0.12%, after retreating from 1.5269, the pair's highest rate since Feb. 26.
Cable was likely to find support at 1.4781, the low of Feb. 3 and a 10-month low, and resistance at 1.5575, the high of Feb. 23.
Sterling also slipped versus the euro, with EUR/GBP gaining 0.24% to hit 0.9051.
Later in the day, Britain was set to release key unemployment data, and the Bank of England was due to publish the minutes of its Monetary Policy Committee's most recent meeting.
Also Wednesday, the U.S. Labor Department was scheduled to release key inflation data with the publication of its monthly producer price index.