Closed in NY at $1.6220 after rate had recovered off session lows of $1.6186 to $1.6230. Trade in Asia was contained within a reasonably tight range of $1.6219/37, the rate remaining buoyed above $1.62 following two visits below Tuesday. Many traders commented that the rate did not look comfortable below the figure, noting decent demand sitting in the area toward $1.6180. UK lending data along with construction PMI data this morning’s domestic interest, some hoping that improvement in the construction sector will provide some positivity. BOE King due to give a BBC R4 Today programme lecture this evening at 2000GMT. EZ employment reports, followed by US ADP also seen of influence as well as EZ manufacturing PMI data. Cable support remains in place between $1.6190/80, a break to open a deeper move toward $1.6155/45, with stops placed on a break of $1.6140. Resistance seen at $1.6240/50, with stops noted above, a break to open a move toward $1.6275/85 ahead of $1.6300/10. Euro-sterling traded between stg0.8144/62 in Asia, holding off Tuesday’s post PMI highs of stg0.81985.
EasyForexNews Research Team