Rate traded the early part of Asia between $1.5423/38, as it consolidated Wednesday’s move, extending to $1.5446 into the Asian afternoon before easing back again ahead of the European open to hold between $1.5423/33. Rate currently trades around $1.5430. EUR/GBP was contained by stg0.8328/38 in Asia, currently around stg0.8333. GBP taken higher on the coat tails of EUR/USD risk driven rally, with hope alive that a deal on Greek debt can be agreed by Friday (as suggested by reports). GBP offers seen in place between $1.5445/55, main interest noted at $1.5450, with talk of stops mixed in above. A break of $1.5460 expected to open a move on toward stronger interest placed into $1.5490/1.5500. Support remains at $1.5425/20 ahead of $1.5400. Nothing on the UK calendar for today with moves to be driven by comment regarding Greek debt talks.
EasyForexNews Research Team