Closed in NY at $1.5797, off late session lows of $1.5785. Rate came under early downside pressure, led by the strong opening sales in EUR/USD, with rate pulled to an early low of $1.5754. Rate recovered to post a session high at $1.5792 into the Tokyo open before again turning lower with EUR/USD remaining the lead. The break below $1.5750 took rate to extended lows of $1.5737 in Asia, squeezing on to $1.5732 into opening European trade before recovering. Rate pushed back up to $1.5760 and was holding firm at posting. Offers seen at $1.5760/65, stronger toward $1.5780 and into $1.5800. Support now seen at $1.5737 ahead of $1.5720, $1.5700 and $1.5680. EUR/GBP, which saw extended recovery highs of stg0.8046 in NY managed to extend this move to stg0.8505 in Asia, retesting recent recovery highs at stg0.8050. Decent sell interest here capped move with rate slipping back to stg0.8036. Little on the domestic calendar today, with main calendar also seen very light. Greece/Eurozone into G8 remains in focus, with headlines to be the main driver via risk.
EasyForexNews Research Team