Closed in NY at $1.6021, just off session lows of $1.6008 after the dollar made decent gains following the release of better than forecast US employment data. Rate retested the NY low into early Asian trade, as it tracked the early dip in euro-dollar, with recovery meeting initial resistance at $1.6030. A brief dip below $1.6020 attracted fresh demand that took rate to extended highs of $1.6036 ahead of the European open. Euro-sterling was held within a tight stg0.8000/11 range through Asia. UK services PMI at 0928GMT to provide today’s domestic interest, ahead of US non-mfg ISM at 1330GMT, with Thursday’s BOE rate/QE decision the main home focus for the week. US election Tuesday not forgotten. Cable resistance seen from $1.6045 through to $1.6060 with stops placed on a break above. Further offers then seen at $1.6075/80. Support remains in place between $1.6010/00 with stops below, a break to allow for a deeper move toward $1.5975/70.
EasyForexNews Research Team