Investing.com – The pound extended gains versus the U.S. dollar on Thursday in the wake of mixed data on U.S. unemployment claims and international trade, and after the Bank of England held its key interest rate at a record low.
GBP/USD hit 1.4655 during European afternoon trade, cable's highest since June 4; the pair subsequently consolidated around 1.4644, advancing 0.79%.
Cable was likely to find resistance at 1.5054, the high of may 10, and support at 1.4229, the low of May 20.
Earlier in the day, the BoE left its Official Bank rate unchanged at 0.5%. The widely expected move came as the new British coalition government prepares an emergency budget, in order to tackle what the ratings agency Fitch has called a “formidable” debt burden.
Sterling rose versus the yen on Thursday, meanwhile, with GBP/JPY rising 0.88% to reach 133.82.
Also Thursday, official data showed that while the United States posted a narrower-than-expected trade deficit in goods and services in April, the number of U.S. workers filing for unemployment benefits exceeded forecasts last week.
GBP/USD hit 1.4655 during European afternoon trade, cable's highest since June 4; the pair subsequently consolidated around 1.4644, advancing 0.79%.
Cable was likely to find resistance at 1.5054, the high of may 10, and support at 1.4229, the low of May 20.
Earlier in the day, the BoE left its Official Bank rate unchanged at 0.5%. The widely expected move came as the new British coalition government prepares an emergency budget, in order to tackle what the ratings agency Fitch has called a “formidable” debt burden.
Sterling rose versus the yen on Thursday, meanwhile, with GBP/JPY rising 0.88% to reach 133.82.
Also Thursday, official data showed that while the United States posted a narrower-than-expected trade deficit in goods and services in April, the number of U.S. workers filing for unemployment benefits exceeded forecasts last week.