Closed in NY at $1.5430, off traded lows of $1.5376, opening into Asia at $1.5420 as it too was marked lower into the session along side EUR/USD (negative EUR comments in the weekend press). GBP was pressed to early lows in Asia of $1.5389 before recovering through the remained of the session, edging to a high of $1.5428. Early Europe extended the move to $1.5435 with rate holding firm at writing. Traders aware of HSBC dividend cover to be enacted around 1100GMT and should act to support sterling through the morning, at least. Traders have noted that GBP has seen decent demand interest on dips below $1.5400 over the last 6-months, with this buoyancy allowing EUR/GBP to extend recent lows to stg0.8222. The cross trades in early Europe around stg0.8248 as cable struggles to edge above $1.5435. A break of $1.5435 to open a move on toward $1.5450/55 ahead of $1.5470 and stronger interest at $1.5490 (76.4% $1.5525/1.5376). Support noted below $1.5400, with main interest seen into $1.5360/40.
EasyForexNews Research Team