FXstreet.com (Sydney) - The pound continued its recovery against the USD rallying to 1.6714 after it opened on 1.6699. Outlook for the pair is currently slightly bearish and finds support at 1.6750 and resistance at 1.6848.

There are reports of relevance that may yet influence the dollar this week. These include data on retail sales in the US as well as an address by Fed Chairman Bernanke. In the UK, CPI data is also due as well as the BoE inflation letter.

Meanwhile, as reported by the SMH, China banking regulatory commission chairman Liu Mingkang is concerned that low interest rates in the US plus a weak dollar is encouraging access to cheap credit there by investors to spend in higher-yielding assets elsewhere.