Closed in NY Friday at $1.5660, as rate recovered off traded lows of $1.5630. Rate was marked higher into early Asia on weekend press reports which prompted a move back into risk. Weekend poll results in Greece showed pro-bailout ND overtaking anti-austerity SYRIZA, talk of Swiss capital controls to avert Chf inflows in the case of a Greek EMU exit, EU plan to shore up European banks, as well as weak talk China looking at an infrastructure stimulus package. The euro led the majors higher, EUR/GBP also being marked up, closing NY at stg0.7990, opening Asia at stg0.8008. Cable trailed EUR/USD extended recovery though Asia, edging to a high of $1.5710, while the cross diverted some of the upside pressure as it moved up to stg0.8025. Cable played catch up into early Europe, extending gains to $1.5717, while the cross respected the overnight high. US holiday expected to make for subdued afternoon markets, headlines expected to remain the key driver of direction. EUR/GBP offers seen at stg0.8025/30 ahead of stg0.8045/50. Support stg0.7980. Cable offers $1.5715/25, $1.5750. Bids $1.5680, $1.5650.
EasyForexNews Research Team