The pair closed in NY at $1.5558 after rate had bounced back from initial FOMC react lows of $1.5557 to $1.5607 before easing off to $1.5550 then edging higher into the close. This recovery continued into Asia, the rate edging on to $1.5572 before turning lower in tandem with euro-dollar, stepping its way to lows of $1.5542, holding heavy into Europe. Euro-sterling was contained within a tight stg0.8463/73 range through Asia after rate had extended its recovery Wednesday to stg0.8498, traders earlier in the session saying that they would look to fade rallies toward the stg0.8500/10 area. ECB rate decision, and following Draghi press conference, key today, with US weekly jobless claims also expected to be in focus ahead of Friday’s major US Employment Report. Domestic interest in the UK will be on construction PMI data at 0830GMT, though more interest noted in Friday’s release of services PMI. Cable support $1.5540, with interest extending toward Wednesday lows around $1.5527. Stops $1.5520. Offers $1.5600/10, the rate having found resistance Wednesday at $1.5607 (50% $1.6381-1.4832 2013 range). Euro-sterling offers remain stg0.8500/10, bids stg0.8460-40.
