The pair closed in NY Monday at $1.5521 after rate had been pulled to an extended day’s low of $1.5508 by euro-dollar slippage caused by reaction (albeit slow) following the Greek presidential election failure. Euro-dollar retained a heavy feel into Asia, which in turn kept weight on cable, early demand only taking rate to a session high of $1.5522 before it dropped back to $1.5503. Recovery efforts were capped at $1.5520 though rate was able to remain buoyed above $1.5500 through the balance of the session, holding around $1.5510 into Europe. Euro-sterling reflected cable’s trailing euro-dollar slippage Monday, the rate pressed back to stg0.78275, off earlier recovery highs of stg0.78535, with further sales in Asia taking the cross from an early recovery high of stg0.7841 to stg0.7818, the rate seen holding heavy into Europe. Nationwide house price data due at 0700GMT provides the early domestic interest. Markets remain thin and open to order driven moves. Cable support remains into $1.5500, a break to expose the Dec23 low (2014 and 28-month low) at $1.5486. Resistance between $1.5520/30, a break here to open a move toward $1.5550/60 ahead of $1.5580/85.
