The pair closed in NY Monday at $1.5217 after rate had been pressed back from a European morning high of $1.5268 to $1.5200 into early NY. Rate recovered to $1.5244 into the 1600GMT fix before dropping back to $1.5210, recovered again to $1.5242 before drifting off into the close. Rate marked lows into Asia at $1.5214 before rate recovered to $1.5249, settling around $1.5240 into Europe. Euro-sterling, which had seen lows into NY of stg0.7413 recovered through the balance of the session between stg0.7440/50, closing the day around stg0.7442. Early Asian trade saw rate consolidate within stg0.7440/45 before easing into the Asian afternoon to settle between stg0.74365/40. UK Mfg/IP data due at 0930GMT, median forecasts -0.1% m/m/-0.1% m/m. Markets remain in headline react mode with focus on Greece developments, Russia-Ukraine as well as adjusted forecasts for US rate hike. Thursday’s UK QIR remains key. Cable resistance remains into $1.5250($1.5252 76.4% $1.5268-00), a break to expose Monday’s high at $1.5268. Support $1.5200 ahead of $1.5170/65. Euro-sterling resistance stg0.7450/60. Support remains from stg0.7415 through to barrier interest at stg0.7400.
