The pair closed in NY Monday at $1.6144 after rate had seen pullback lows of $1.6133 earlier in the session, as it extended its correction away from Friday highs of $1.6224, with a recovery to $1.6168 seen into the European close before it drifted off at the end of the day. Rate nudged up to $1.6147 in opening Asian dealing before turning lower on position adjustment ahead of today’s delayed Sep US NFP data. Analyst suggestions are that a strong release (above 200k) would have the most reactive effect, as market seen sitting short dollars, and should prompt strong dollar demand, though reports suggest that this would only attract fresh dip demand on any potential move below$1.6100. Rate eased to an initial low of $1.6123, meeting reported demand between $1.6125/20, before targeting stops below $1.6120 which extended the move to $1.6116. A slow recovery ahead of the European open sees rate trade around $1.6128. Dollar plays continue to dominate with euro-sterling held within a tight range of stg0.8472/78. Demand now seen placed into $1.6100, a break to open a deeper move toward $1.6060/50. Resistance $1.6150 ahead of $1.6170 then $1.6200.
