The pair closed in NY Thursday at $1.6689 after rate had managed to recover off extended lows of $1.6657 earlier in the day to $1.6697, the move up aided by the release of weaker than forecast US weekly jobless claims data, though momentum failed to take rate back above $1.6700. Rate settled between $1.6680-90 through the NY afternoon. Euro-sterling saw extended recovery highs of stg0.8037 in NY, the rate remaining above stg0.8000 through the day with Asia consolidating between stg0.8005-0.80095. UK Q2 GDP second reading and Index of Services at 0830GMT provides domestic interest this morning (though not seen as major), with outside influences to be dominant. US PPI, Empire State, TIC flows, IP and Cap.Ut. provide afternoon focus along with Geo political risks into the weekend. Cable touched a low of $1.6682 in early Asia before recovering to $1.6695 ahead of the European open. Resistance remains into $1.6700/05, a break to open a move toward $1.6730. Support $1.6660/50. Euro-sterling offers remain into stg0.8040, with stops above, with bids at stg0.8000 keeping the rate buoyed.
