The pair closed in NY Wednesday at $1.5180 after rate had pared earlier gains which had seen rate push to an extended high of $1.5251. The pullback extended during the NY afternoon to $1.5194, bounced to $1.5234 on an initial ‘incorrect’ react move $1.5234 before it dropped to $1.5165. The pullback was influenced by a late NY announcement from the ECB that it was lifting its waiver on Greek bonds used as collateral as of Feb11. Euro-sterling diverted some of the negative weight from this move as rate dropped to stg0.7459, further extending its corrective pullback from recent highs of stg0.75925. Rate closed the day at stg0.7469. Cable consolidated the late NY move between $1.5170-90 in early Asia before lifting back above $1.5200 into the Asian afternoon, touching a high of $1.5213. Rate was holding just above $1.5200 into Europe. Euro-sterling touched stg0.7450 in opening Asian trade before it recovered to stg0.7475 but underlying tone remained heavy and rate drifted off, settling around stg0.7460 into Europe. Halifax house data at 0800GMT, new car registrations 0900GMT. BOE MPC announcement at 1200GMT, no change widely expected. Cable support $1.5165-50. Resistance $1.5218-31
