Investing.com - The pound fell against the dollar on Friday in wake of a soft U.K. factory report that offset a lackluster July jobs report in the U.S.
In U.S. trading on Friday, GBP/USD was trading down 0.31% at 1.6833 up from a session low of 1.6814 and off a high of 1.6893.
Cable was likely to find support at 1.6739, the low from June 11, and resistance at 1.7001, Monday's high.
Markit Economics reported earlier that its U.K. manufacturing purchasing managers' index fell to 55.4 last month, down from 57.5 in June. Analysts had expected the index to slip to 57.2 in July, and numbers weakened the pound.
A day earlier on Thursday, the Nationwide Building Society reported that property values rose 0.1% in July from June, missing market calls for a 0.5% reading, which softened the pound.
Property values rose 10.6% on year in July, below expectations for a reading of 11.3%
While many market watchers expect the Bank of England to tighten policy before most other central banks, Friday's data sent investors rethinking their timelines, which gave the dollar the edge over its U.K. counterpart despite disappointing jobs numbers out of the U.S.
The Labor Department reported earlier that the U.S. economy added 209,000 jobs in July, missing expectations for an increase of 233,000. The number of jobs added in June was revised up to a 298,000 gain from a previously estimated rise of 288,000.
The report also showed that the U.S. unemployment rate ticked up to 6.2% last month from 6.1% in June. Analysts had expected the rate to remain unchanged in July.
While the economy is improving, the Fed noted in its July statement on interest rates this week that slackness remains in the labor market.
Elsewhere, the revised Thomson Reuters/University of Michigan consumer sentiment index rose to 81.8 in July from 81.3 in June, missing expectations for a reading of 82.0, which added to Friday's profit taking.
Separately in the U.S., the Institute of Supply Management reported that the U.S. manufacturing purchasing managers' index rose to 57.1 in July from 55.3 in June, beating expectations for an increase to 56.0.
Elsewhere, sterling was down against the euro, with EUR/GBP up 0.62% at 0.7979, and down against the yen, with GBP/JPY down 0.64% at 172.46.