The pair closed in NY Wednesday at $1.5050 after recovering off a low of $1.5020, seen after rate had seen volatile reaction to Fed Bernanke comment, the prepared text noting dangers of premature tapering, which weakened the dollar and took cable to $1.5158, the dollar then spiking higher during the Q&A as the Fed Chairman was seen more flexible toward tapering if data supported such action. Cable retained a heavy feel into Asian trade, the rate pressed back to that $1.5020 NY low before extending to $1.5014 ($1.5015 76.4% $1.4832-1.5607). Rate recovered in tandem with euro-dollar, touching a high of $1.5052 before settling between $1.5040/50 into Europe. Euro-sterling, which had seen extended highs of stg0.8590 in NY, was contained between stg0.85375-0.85485 through Asia with most interest seen in dollar pairs post Bernanke. EZ flash PMI data seen as a general focus this morning with domestic data dominated by the second reading of UK Q1 data at 0830GMT (0.3% Q/Q 1st read). US jobless claims provides early afternoon focus. Cable demand remains in place from $1.5015 through to barrier interest at $1.5000. Resistance $1.5050/70, a break to open a move toward $1.5100 ahead of $1.5120/25
