Closed in NY Friday at $1.6065 having bounced off the intraday low of $1.6018, the rate consolidated gains despite decent US Consumer Confidence data. Cable opened higher in light Asian trade to $1.6079, before tracking sharp euro-dollar declines and slipping to $1.6027. Dip demand later recovered to settle in a tight range and last trades $1.6038 ahead of Europe. Support seen on the downside at $1.6025/15, ahead of $1.6005/00. With the Lack of UK data today traders focus on release of CPI numbers on Tuesday, followed by the Bank of England (BOE) minutes on Wednesday. Euro-sterling closed in NY Friday at stg0.8065, off earlier lows of stg0.8051. The cross lifted to stg0.8063 in early Asian trade before easing lower in tandem with euro-dollar to stg0.8040 where the rate met support. Strong demand seen at stg0.8025/20 (stg0.8023 – 11 Oct low), ahead of bids at stg0.8005/0.7995.
