Investing.com - The pound edged higher against the dollar in quiet trade on Tuesday after Federal Reserve official’s downplayed concerns over an imminent end to the central bank’s stimulus program. GBP/USD hit 1.5463 during European morning trade, the session high; the pair subsequently consolidated at 1.5451, easing up 0.11%. Cable was likely to find support at 1.5367, Friday’s low and resistance at 1.5528, Friday’s high. On Monday, Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, said the central bank was committed to continuing its bond purchase program until the U.S. unemployment rate falls further. Dallas Fed President Richard Fisher also downplayed market jitters over tapering as overdone. The comments came after Fed Chairman Ben Bernanke said last week that the bank could begin slowing asset purchases by the end this year if the economy continues to pick up. The pound’s gains looked likely to remain limited as sustained fears over a credit squeeze in China continued to support safe haven demand. Sterling was fractionally higher against the euro, with EUR/GBP dipping 0.07% to 0.8492. The U.S. was to release official data on durable goods orders and reports on home sales and consumer confidence later in the trading day.

Source