Opened early Europe at $1.5636, stg0.7993, another quiet Asian session and the rate eased to $1.5640 in late NY trade from earlier highs of $1.5648. GBP slipped in tandem with EUR/USD on the open to $1.5623, before recovering on dip demand from Asian names. Market volume seen light and the pair traded a tight $1.5628 – $1.5640 range for the remainder. EUR/GBP closed in NY at stg0.7990 and eased to stg0.7986 on the Asian open, before tracking EUR/USD demand to stg0.7998. In Europe Cable ground lower throughout the session to print $1.5610 lows before meeting decent demand ahead of reported large $1.5600 bids. The pair recovered to $1.5620 and looks to NY for direction. A break on the downside opens strong bids at $1.5585/75, more at $1.5550. EUR/GBP opened on a bid tone and extended gains through stg0.8000, flushing small stops to stg0.8004. The Rate eased off highs to settle around stg0.7994 as traders report of thin market volumes.
EasyForexNews Research Team