The pair closed in NY Friday at $1.6017 after recovering from a post US NFP react low of $1.5957 to $1.6031 before it drifted off in to the close. Rate eased into early Asian trade, finding decent support at $1.6000, which provided a base, before it recovered to $1.6021 before settling between $1.6010/20 through the balance of a fairly quiet overnight session. US and Canadian holidays today expected to make for subdued trading conditions into the European afternoon. Euro-sterling was contained through the overnight session between stg0.83395/0.8344. Little in the way of important data for today with markets on watch for any ECB comments concerning last week’s rate cut (ECB/Buba Weidmann speaks later). The dollar retains an underlying buoyant tone, following on from Friday’s employment report, though this seen tempered by weekend data out of China. Fed Yellen’s confirmation hearing Nov14 in focus this week asmarkets look for her view on data for tapering. For cable, offers remain at $1.6030/35 ($1.6031 NY recovery high; 50% $1.6105-1.5957) ahead of $1.6050 and $1.6070. Support $1.6000, $1.5960/50.
