The pair closed in NY Tuesday at $1.5643, off recovery highs of $1.5653 after the dollar had been pressed lower during the NY session on the back of a sharp, low liquidity, sell off in dollar-yen, suggested to have been prompted by a negative performance on Wall St. Like euro-dollar this rate consolidated the recovery, with trade through the main part of the day contained within a range of $1.5639/53, getting squeezed down to $1.5634 ahead of the European open. Euro-sterling was contained within a tight stg0.85065/0.85105 range as this rate, which had seen highs Tuesday of stg0.8551 was pressed back to stg0.8501 in NY, closing this session at stg0.8509. UK employment data at 0830GMT provides the domestic data interest this morning with some suggesting that the unemployment number could come in above median expectations (median claimant count -5k). Cable offers seen placed at $1.5650/55, a break to expose the June 6 high at $1.5684, with sell interest seen placed from here and extending toward barrier interest at $1.5700. Traders also note the close proximity of the 200-dma at $1.5702. Support seen into $1.5630 ($1.5633 23.6% $1.5570-1.5653) ahead of $1.5610/00, stops placed on a break of $1.5590.
