Closed in NY at $1.5174 after rate had been pulled back from a session high of $1.5210 to $1.5141 before recovering into the close. Rate touched an early low in Asia at $1.5167 before it pushed higher through the balance of the session to $1.5195, holding firm into Europe. Euro-sterling closed in NY at stg0.8501, the rate having seen lows of stg0.8490 before recovering to stg0.8530 then drifting back into the close. Early Asian trade stuck in a tight range around stg0.8500 before dropping to stg0.8484 as the euro was sold off into Europe on headlines suggesting Cyprus has not been able to negotiate funding from Russia. A very light UK domestic data calendar for today with moves to again be dictated by Cyprus developments, with Germany Ifo to also have some influence via euro-sterling. Cable offers remain in place from $1.5195 and extend toward Thursday’s high at $1.5210 with stops noted above. A break here to open a move toward $1.5225/35. Support $1.5165/60 ahead of $1.5145/40 and $1.5125/20.
EasyForexNews Research Team