The pair closed in NY Friday at $1.5558 after rate had seen an initial spike to $1.5604 on release of US NFP data before turning lower as the dollar gained a general boost taking rate to lows of $1.5488 before recovering through the NY afternoon into the close. Rate was marked down to $1.5529 into opening Asian trade, more as a consequence of the low open in the AUD as traders reacted to Saturday’s release of China data, the fall in Chinese imports seen as the main influence. Cable touched an early low of $1.5510 before turning higher, with moves in a fairly subdued, holiday thinned, Asian market taking direction from low volume trade. Rate tracked euro-dollar’s recovery, the rate edging to $1.5565 before turning lower and settling around $1.5520 ahead of the European open. Euro-sterling was contained within a range of stg0.84875-0.85025. A light domestic calendar will have sterling taking direction from outside influences.
