The pair found support throughout the US afternoon bouncing off European lows of $1.5415 after release of strong Retail Sales. The rate opened in NY around $1.5445 and ground higher throughout the session, strong offers ahead of $1.5500 capped the topside to close in NY at $1.5490. Euro-sterling traded heavy and after bouncing off lows of stg0.8517 to stg0.8553, the cross slipped back as equities dumped to close at stg0.8535. Cable opened firmer in early Asia to $1.5523 as traders sold the dollar in anticipation of a weak Nikkei open. The rate stalled and as dollar-yen bounced on demand from Japanese banks, pared early gains back through $1.5500 to lows of $1.5491. Support in the dip cushioned and the pair tracked euro-dollar’s extended recovery to re-test session highs, but with lack of follow through drifted to $1.5500 ahead of Europe. Initial support seen at $1.5480, bids behind at $1.5450 with stronger on approach to $1.5400 ($1.5401 – 38.2% of $1.4832-1.5752). The cross dipped to early lows of stg0.8518, before bouncing to stg0.8538 and settled in a tight 10 pip range for the remainder of the session
