Closed in NY at $1.6136 after pulling back from a post US employment report high of $1.6217 to $1.6123. Rate nudged to mark an early high into Asia at $1.6142 before turning lower, taking its lead from euro-dollar slippage, with rate squeezing down to $1.6102 before settling around $1.6110 into Europe. Asian traders have suggested that moves have been exaggerated by the thin markets with Tokyo on holiday, and the US and Canada also out. Moves down through the overnight session were seen on a paring of risk positions as analysts suggested the US employment report headlines maybe flattered the real situation, as well as ECB Asmussen suggesting possible tensions in regard to securing Greece’s next tranche of aid. No major domestic data due for release today, though any comments from the Conservative conference will be watched for (Chancellor Osborne due to speak). Support remains into $1.6100 ($1.6102 76.4% $1.6067/1.6217), a break to expose the recent lows at $1.6067. Resistance seen from above $1.6140 through to $1.6160. Euro-sterling resistance stg0.8080, stg0.8100-15. Bids stg0.8060.
EasyForexNews Research Team