Opened in early Europe at $1.5657 and stg0.8342. GBP posted session highs in NY yesterday of $1.5681 which saw the pair extend gains for the 2nd consecutive day. The rate ran into strong headwinds and eased to $1.5656 around the close. The pair picked up to $1.5674 and traded a buoyant tone into Asia, the rate was unable to sustain momentum falling back to $1.5650 and hold into the European open. GBP pared overnight losses and recovered to $1.5675, before easing to $1.5662 on early order flow. Dealings continued with light flow and trade a tight 20 pip range ahead of the NY open. Demand seen into $1.5650, with offers sitting at $1.5680. EUR/GBP slipped to session lows Stg0.8331, before recovering to Stg0.8342 as the quiet theme continued. Strong demand seen at Stg0.8300, with offers at Stg0.8375.
EasyForexNews Research Team