Forex - GBP/USD slips lower after U.S. data

The pound slipped lower against the U.S. dollar on Friday, as the release of positive U.S. data added to speculation the Federal Reserve could begin tapering its asset purchases as soon as next month, boosting demand for the greenback. 

GBP/USD hit 1.5474 during U.S. morning trade, the pair's lowest since August 28; the pair subsequently consolidated at 1.3208, falling 0.19%. 

Cable was likely to find support at 1.5423, the low of August 14 and resistance at 1.5549, Thursday's high. 

In a revised report, the University of Michigan said its consumer sentiment index rose to 82.1 in August, from a reading of 80.0 the previous month, beating expectations for an uptick to 80.5. 

A separate report showed that the Chicago purchasing managers' index rose to 53.0 this month, from a reading of 52.3 in July, in line with expectations. 

Earlier Friday, the Bureau of Economic Analysis said that personal spending rose less-than-expected in July, gaining 0.1% after an upwardly revised 0.6% increase the previous month. Analysts had expected personal spending to rise 0.3% last month. 

In addition, data showed that U.S. core consumer prices, excluding food and energy, rose 0.1% in July, confounding expectations for a 0.2%, following a 0.2% increase in June. 

In the U.K., the Bank of England said that net lending to individuals fell to GBP1.3 billion in July, from GBP1.4 billion the previous month, disappointing expectations for a rise to GBP1.7 billion. 

Data also showed that house price inflation in the U.K. rose 0.6% in August, in line with expectations. 

Separately, markets were still jittery amid concerns over an impending U.S.-led military strike against Syria, following the alleged use of chemical weapons. 

The White House said on Thursday that President Barack Obama will decide on a response to Syria based on U.S. interests, but will continue to consult with Britain despite the British Parliament's "no" vote to a military intervention. 

Sterling was fractionally higher against the euro with EUR/GBP edging down 0.07%, to hit 0.8534. 

In the euro zone, official data showed that consumer price inflation ticked down to an annualized rate of 1.3% in August, from 1.6% in July, compared to expectations for a slip to 1.4%. 

A separate report showed that the unemployment rate in the euro zone remained unchanged at record-high 12.1% in July, in line with expectations.