The pair closed in NY Thursday at $1.6891 after sterling had been given a boost on release of stronger than forecast UK mfg PMI data which had spiked cable to a high of $1.6921, while euro-sterling was pressed down to stg0.8206. Sterling struggled to hold gains, eventually easing back below $1.6900, before finding demand interest that supported the rate around $1.6880. Cable recovered to $1.6900, as the cross, which had recovered to stg0.8218, turned lower again and extended lows to stg0.8204, the rate eventually drifting off to $1.6890 into the close. Trade through Asia was contained within a tight $1.6881/94 range, the cross between stg0.8209/0.82105, as the pound consolidated gains, with markets in Asia remaining subdued ahead of this afternoon’s key US NFP data. UK construction PMI data at 0830GMT provides domestic interest, but seen overshadowed by the mentioned US jobs data. Cable offers remain at $1.6900, a break to open a move back toward $1.6920/25. A break here to then open a move toward $1.6940/50. Barriers mentioned at $1.6950 and $1.7000. Support$1.6880/70, more between $1.6855/45. Euro-sterling demand stg0.8205/195, stronger toward stg0.8180. Resistance stg0.8220.
