Closed in NY at $1.5515 after marking lows at $1.5478 and recovering to $1.5520/25. Rate touched an early low of $1.5511 before
reserve manager demand lifted the rate on to $1.5530, the demand overcoming reported US name offers between $1.5517/20. Rate drifted back to retest early lows before bouncing back more aggressively, posting session highs at $1.5532 before moving on to $1.5537 into early Europe. EUR/USD through Asia was confined to a tight stg0.7894-0.79005 range, the rate having posted lows in NY at stg0.7893 after triggering barrier interest at stg0.7900. Further barrier interest noted at stg0.7890 and seen threatened into early Europe. Nothing on the data calendar for the UK today with moves to come from EUR/USD action, which in turn will be dictated again by headlines. US trade at 1230GMT to provide main data interest on the day ahead of FOMC Minutes later at 1800GMT. Cable offers remain in place between $1.5550/60, more at $1.5580. Support remains at $1.5480/70 with interim interest seen now at $1.5510/00.
EasyForexNews Research Team