Investing.com – The pound was down against the U.S. dollar on Monday, falling to a 2-day low as broad dollar weakness subsided after Friday’s better-than-expected non-farm payrolls data.
GBP/USD hit 1.6102 during late Asian trade, the pair’s lowest since last Thursday; the pair subsequently consolidated at 1.6154, shedding 0.17%.
Cable was likely to find support at 1.6005, the low of November 3 and resistance at 1.6298, last Thursday’s high and a 10-month high.
On Friday, the U.S. Department of Labor said that non-farm payrolls rose significantly more-than-expected in October, climbing by 151K after falling by a revised 41K in September. Analysts had expected non-farm payrolls to rise by 60K in October.
The strong data eased the selling pressure that had come to bear on the dollar following the Federal Reserve's announcement on a new round of quantitative easing.
Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.45% to hit 0.8630.
Earlier in the day, the U.K.’s largest property website, Rightmove said that the number of people in the U.K. planning to buy a home for the first time rose to 26% in October as falling prices boosted demand, indicating “tentative signs” of a recovery in the total number of potential homebuyers.
GBP/USD hit 1.6102 during late Asian trade, the pair’s lowest since last Thursday; the pair subsequently consolidated at 1.6154, shedding 0.17%.
Cable was likely to find support at 1.6005, the low of November 3 and resistance at 1.6298, last Thursday’s high and a 10-month high.
On Friday, the U.S. Department of Labor said that non-farm payrolls rose significantly more-than-expected in October, climbing by 151K after falling by a revised 41K in September. Analysts had expected non-farm payrolls to rise by 60K in October.
The strong data eased the selling pressure that had come to bear on the dollar following the Federal Reserve's announcement on a new round of quantitative easing.
Meanwhile, the pound was up against the euro, with EUR/GBP shedding 0.45% to hit 0.8630.
Earlier in the day, the U.K.’s largest property website, Rightmove said that the number of people in the U.K. planning to buy a home for the first time rose to 26% in October as falling prices boosted demand, indicating “tentative signs” of a recovery in the total number of potential homebuyers.