Closed in NY at $1.5482, after rate was pressured to session lows of $1.5475. Rate tracked early downside pressure on EUR/USD, led by early Aussie sales, which took rate to extended lows of $1.5463 before recovering. Recovery efforts remained fairly muted, BOE Posen comments countering an improvement in GfK consumer confidence data with topside capped at $1.5485. EUR/GBP consolidated Wednesday’s end month inspired recovery to stg0.8000, with rate trading around this high between stg0.79895/0.8006 in Asia. The cross was holding firm into early European dealing with suggestions we could still see end month sovereign demand for the pair. Cable demand seen placed between $1.5460/50 ahead of $1.5415/00. Resistance noted into $1.5500. For the cross, resistance now seen up at stg0.8015/20. Nationwide house price data, released at 0600GMT, was stronger than forecast, but Eurozone woes overshadow.
EasyForexNews Research Team