The pair closed in NY Thursday at $1.6351 after rate had failed to build on its earlier gains to $1.6418, with the corrective pullback, prompted by stronger than forecast US retail sales, cushioned at $1.6321 before rate recouped some lost ground into the close. Cable was pressed lower again into early Asia, the move taking its cue from strong demand for dollar-yen, with rate finding an early base at $1.6336. Recovery saw rate step its way up to an overnight high of $1.6360 before momentum faltered and it reversed tack to trade down to session lows of $1.6333. Cable was recovering into early Europe, currently around $1.6343. Euro-sterling was contained within a tightstg0.8410/0.84145 range in Asia leaving cable to take direction from euro-dollar. UK construction output at 0930GMT provides the domestic morning interest with BOE Dale speaking at 1230GMT. A few ECB speakers on the agenda could provide general activity this morning. Cable offers seen placed into $1.6360 with stronger interest noted between $1.6370/80 (50%-61.8% $1.6418-1.6321). Support remains into $1.6325/15, a break to allow for a deeper move toward $1.6400. Asian traders highlight stops below $1.6265 and $1.6240.
