Closed in NY at $1.5722 after being driven to extended highs of $1.5735 on mainly EUR/GBP trade, the cross breaking below stg0.7800 to mark fresh 44-mth lows at stg0.7792. GBP had eased to $1.5708 ahead of the NY close as the cross edged back above stg0.7800, closing the session around stg0.7810. GBP turned lower again into early Asia, drifted to an early low of $1.5713 before dropping to $1.5697 from a $1.5718 recovery high. Rate settled back between $1.5700/10 into the Asian afternoon, stretching to $1.5718 again before settling back within $1.5700/10. Rate trades around $1.5703 into Europe. EUR/GBP consolidated Thursday’s easing, with trade through Asia contained within a range of stg0.7805/14. Borrowing data due for release at 0830GMT the morning’s domestic interest though main moves expected to continue to come from euro cross moves. GBP offers now seen at $1.5720 ahead of $1.5735 and $1.5742-51 200-week ma and 200-dma respectively. Demand noted at $1.5700, stops on break of $1.5695/90. Further demand seen at $1.5660/50.
EasyForexNews Research Team