The pair closed in NY Monday at $1.7076 after rate had seen extended lows of $1.7056 post London fix, with rate able to recover through the balance of the NY afternoon to $1.7079 before drifting off into the session close. Rate closed Friday below its 21-dma (Friday $1.7097, today at $1.7102) with recovery effort Monday, off its Friday low of $1.7037, faltering at the 76.4% retrace of the move down from $1.7118, at $1.7099. The late drift lower in NY continued into Asia as rate eased to lows of $1.7069 before recovering through the balance of the session to $1.7082 ($1.7083 61.8% $1.7099-56).Euro-sterling was contained within stg0.7919-0.79215 through the Asian session, the rate continuing to pivot the stg0.7920 level. UK public borrowing data due up at 0830GMT provides the domestic interest today, though overshadowed by US inflation data at 1230GMT. This week attention will be on BOE MPC Minutes Wednesday, with BOE Carney also speaking in Glasgow, Thursday retail sales, while Friday has first read of UK Q2 GDP. Cable retains an underlying soft tone though sterling remains in favour over the medium term with traders looking to by dips. Similar in euro-sterling with rallies to attract sell interest
