Investing.com - The pound held steady against the U.S. dollar in subdued trade on Monday, as markets in the U.K. remained closed for a holiday, after downbeat U.S. durable goods data eased expectations for the Federal Reserve to reduce asset purchases as soon as next month.
hit 1.5612 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.5579, easing up 0.07%.
Cable was likely to find support at 1.5510, the low of August 15 and resistance at 1.5672, the high of Auugust 19.
The Commerce Department said durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.
Core durable goods orders, excluding volatile transportation items, fell 0.6% last month, defying expectations for a 0.5% increase.
The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
The weak data added to uncertainty over whether the Fed will start to taper its USD85 billion-a-month asset purchase program next month.
Sterling was steady against the euro with dipping 0.05%, to hit 0.8589.