Investing.com - The pound was almost unchanged against the U.S. dollar on Tuesday, after the release of tepid U.K. lending data and as investors remained cautious ahead of a series of U.S. economic events later in the week.
GBP/USD hit 1.6995 during European morning trade, the session high; the pair subsequently consolidated at 1.6989, inching up 0.03%.
Cable was likely to find support at 1.6924, the low of June 18 and resistance at 1.7053, the high of July 24.
Official data earlier showed that U.K. net lending to individuals rose by £2.5 billion last month, below expectations for an increase of £2.6 billion. Net lending to individuals in May was revised up to a £3.0 billion increase from a previously estimated £2.7 billion gain.
Meanwhile, demand for the dollar continued to be underpinned ahead of preliminary data on U.S. second-quarter growth and the Federal Reserve’s latest rate statement, both due on Wednesday. Investors were also awaiting the July employment report on Friday.
Earlier this month Fed Chair Janet Yellen said that rates could rise sooner if the recovery in the labor market continued.
Sterling was steady against the euro, with EUR/GBP dipping 0.03% to 0.7910.
Later in the day, the U.S. was to publish reports on house price inflation and consumer confidence.