The pair closed Friday in NY at $1.6349 after rate had recovered off initial NFP react lows of $1.6294 to $1.6393, dipping back to $1.6318 before recovering into the close. Into early NZ trade Monday and rate popped up to $1.6353, the move taking its lead from an early spike higher in euro-dollar. As euro-dollar’s early move reversed so cable eased lower, the rate trading to overnight session lows of $1.6316 before it steadily stepped its way back to $1.6354 through the balance of the session. Rate was trading around $1.6348 into the Europe open. Cable’s recovery Friday was tempered by euro-sterling tracking the euro’s stronger rally, the cross pushing up to stg0.8390, with early Europe reflecting the stronger upside open in euro-dollar as it extended the move tostg0.8395 before turning lower and pressing back to stg0.83825 into Europe. A data light day in the UK with moves to come from continued analyst fallout from Friday’s strong NFP and its possible effects on the US taper timetable. Cable offers seen placed between $1.6350/60, a break to open a move on toward $1.6375/80 ahead of $1.6400. Support remains at $1.6320/15 ahead of $1.6300-1.6290.
