Closed in NY at $1.5865 after rate had recovered off a late NY session low of $1.5818. Rate eased into Asian trade, the rate marking lows at $1.5852 before picking up fresh demand, the rate edging to an overnight high of $1.5880 ahead of the European open. Moves were generally dictated by EUR/USD moves as EUR/GBP was contained within a tight stg0.82425/0.82475 range. Cable retains a firm tone into early Europe, currently trading around $1.5876. Offers seen in place between $1.5880/85, a break to open a move on toward $1.5900/05 ($1.5902 76.4% $1.5931/1.5808) ahead of $1.5930/35. Support seen from $1.5860 and extending down to $1.5850, a break here to open a deeper move toward $1.5825/20 ahead of stronger interest placed between $1.5810/00. Light data calendar for the UK Wednesday with moves to come from risk plays, Eurozone periphery again to be in the spotlight. EUR/GBP offers remain at stg0.8275/80, bids stg0.8235/30, with further interest noted from stg0.8225 through to stg0.8175 covering the 2012 low at stg0.8220 and an option barrier at stg0.8200.
EasyForexNews Research Team