GBP/USD closed in NY Friday at $1.5575, with rate getting marked down slightly into early Asian trade Monday, as EUR/USD marked sharply lower following weekend disappointment for a conclusive agreement on the Greek debt deal. Rate opened Asia around $1.5570 and was squeezed to an early low of $1.5525. Rate settled back into a $1.5540/55 range through the main part of a Chinese new year holiday thinned overnight session, before coming under fresh sell pressure into Europe. EUR/GBP, was marked down in line with other euro crosses in Asia, marking a low of stg0.82775 in early trade, settling between stg0.8285/0.8300 ahead of Europe. GBP retained an early soggy tone in Europe, leaving the cross to track EUR/USD recovery, taking it to an early high of stg0.8332. Cable extended lows to $1.5517 on EUR/USD pullback, only to snap back higher on strong UK clearer demand, French cross sales, which took cable to $1.5575. The cross touched a pullback low of stg0.8313 before bouncing to stg0.8354 late morning on euro recovery.
EasyForexNews Research Team