The pair closed in NY Wednesday at $1.6455 after rate had dipped back to $1.6400 on release of stronger than expected US ADP jobs data before bouncing back to $1.6472 (50% $1.6605-1.6337) where it met resistance before drifting off into the close. The corrective pullback was aided in part by a perceived slightly hawkish FOMC Minutes release, though cable was buoyed by expected contagion from US positivity going forward. This buoyancy in the pound allowed euro-sterling to track euro-dollar slippage, the rate taking out barrier interest at stg0.8250, touching stg0.8243 before settling around stg0.8250 into the close. Cable eased to $1.6441 in early Asia before it edged its way back to an overnight high of $1.6460. Rate dipped back to $1.6445 into Asian afternoon trade but was seen challenging the earlier high into Europe. Offers remain inplace between $1.6470/80, a break to open a move on toward $1.6500/10 ($1.650361.8% $1.6605-1.6337). Support $1.6440/35 ahead of $1.6428 (61.8% $1.6400-72)with stronger interest remaining into $1.6400. UK trade data due at 0930GMT to provide morning intererst though main focus will be on BOE MPC rate decision at1200GMT ahead of ECB decision/press conference at 1245GMT/1330GMT.
