The pair closed in NY Friday at $1.6575 after rate had bounced off session lows of $1.6555 to $1.6606 following the release of US NFP data, before settling around $1.6580 into the end of the week. Rate marked an early high in opening Asian trade, hit $1.6589 before it settled back around $1.6580 through the main part of the overnight session before marking lows at $1.6568 ahead of the European open. Markets were again fairly subdued in Asia, traders noting the tight range trading following the release of US jobs data Friday and now waiting for European markets, then US markets to reopen, (following last week’s dovish tone from Draghi at the ECB press conference and now focusing on ECB speakers) to gauge direction. Lloyds employment confidence report at 0830GMT provides the domestic data interest. Cable support remains at $1.6555, with bids seen from here through to $1.6540 with stops below. Resistance $1.6600/10, $1.6620 and $1.6635. Euro-sterling was contained overnight between stg0.8258/70.
