The pair closed in NY Monday at $1.6109 after rate had pulled back from an intraday high of $1.6149 (met strong corp sell interest toward $1.6150), touching a low of $1.6082 in NY trade before edging higher into the close. This recovery extended in Asian trade, the rate pushing on to $1.6124 before it was knocked back to $1.6099 into the Asian afternoon as it tracked euro-dollar slippage, which in turn was prompted by a pullback in euro-yen. Rate remains around $1.6100 ahead of Europe. Euro-sterling, which had recovered off a low Monday at stg0.8362 before recovering to stg0.8400 consolidated between stg0.83785-0.83895 in Asia, the rate pressuring the high into Europe. Cross offers remain in place into stg0.8400, with minor stops above. A break here to open a move toward stg0.8415/20 with larger stops noted from stg0.8420 through to stg0.8430. Support remains at stg0.8365/60. Cable offers seen at $1.6130/35, a break to expose the stronger resistance toward $1.6150. Support $1.6098 (61.8% $1.6082-1.6124) ahead of $1.6092(76.4%) and $1.6080. Another data light day in the UK with Germany ZEW in focus this morning ahead of OECD global economic forecasts at 1000GMT
