Closed in NY Wednesday at $1.6148, off earlier highs of $1.6179. Broad dollar demand was seen across the board in early Asia and cable like euro-dollar had a slow grind lower throughout the session. The rate slipped to print lows of $1.6124 and settled in a tight range as traders squared positions ahead of today’s EU summit with officials. Bids seen on the downside into $1.6110, a break opens technicals at $1.6107/04/6097 (5 dma, 38.2% of $1.6309-1.5977, 12 Oct high), ahead of more bids at $1.6080. Euro-sterling closed in NY Wednesday at stg0.8126, the rate recovered from a pullback low of stg0.8108 after earlier posting a high of stg0.8130. Tight trange trade continued in Asia, before sharp cross sales pressed to stg0.8116 where the rate met support ahead of the 200 dma (stg0.81116) and recovered to stg0.8120. Light data release in the UK today with highlights from Retail Sales, released at 0830GMT.
EasyForexNews Research Team