The pair closed in NY Friday at $1.5243 after rate was pressed back from highs of $1.5352 to an eventual NY afternoon low of $1.5211 as markets reacted to the release of stronger than forecast US jobs report, the dollar making gains across the board. However, sterling proved to be fairly resilient, helped by euro-sterling extending its corrective pullback, from the Feb3 highs of stg0.75925, to stg0.7421. Cable marked highs in Asia at Monday’s open, touching $1.5266 before it retested Friday’s low, touching $1.5210. Rate again found decent demand interest ahead of $1.5200 which cushioned and allowed rate to recover back to $1.5265, settling around $1.5260 into Europe. Euro-sterling marked its session range between stg0.7420/35 in opening Asian trade before it recovered from a stg0.7420 retest and edged to the stg0.7430 area, trading around stg0.7425 into Europe. A light domestic calendar for today with attention turning to Tuesday’s IP/Mfg data and key QIR Thursday (QIR normally Wednesday but delayed a day due to G20). Cable support remains $1.5210/00, a break to open a deeper move toward $1.5170/65. Resistance $1.5265/70($1.5264 38.2% $1.5352-1.5210/$1.5266 Asia high), ahead of $1.5280/85 and $1.5300.
