Closed in NY at $1.5495, off a late recovery high of $1.5504 (NY high $1.5516). Rate continued its corrective pullback in early Asia, touching a session low of $1.5470 before picking up fresh demand. The recovery back to the opening highs around $1.5494 was seen on the release of strong Australian jobs data as it boosted the underlying risk-on tone. GBP drifted off highs, easing back to earlier lows at $1.5470 before settling between $1.5470/80 into Europe. EUR/GBP recovered off Wednesday’s pullback lows of stg0.8051 to stg0.8125 in NY , with rate consolidating this move in Asia as rate held between stg0.8115/25. Halifax house price data due for release at 0700GMT ahead of services PMI data at 0828GMT. This latter data release seen the more important ahead of BOE MPC rate decision at 1100GMT. Most expect rates to remain on hold but there is speculation we could seen an increase in QE by stg50bln. With this in mind expect sterling to continue trading on the slight defensive ahead of this morning’s releases.
EasyForexNews Research Team