The pair closed in NY Friday at $1.6748, after rate had extended its recovery off Thursday lows of $1.6617 to $1.6769 earlier in the day, before it eased to $1.6684 ahead of Friday’s NY open only to recover to $1.6764 during the US afternoon. Asian highs were marked at $1.6760 at the start of trade before dropping back, this corrective pullback extending in early Asia as weekend news reports concerning the situation in the Ukraine had traders ready to mark rates lower on risk aversion. Cable was pressed to lows of $1.6710 ahead of the Tokyo open only to reverse higher as main Asia began trading. Rate edged to a recovery high of $1.6749, faltered ahead of $1.6750 before easing off to $1.6730 ahead of the European open. The Asian market was seen adjusting positions ahead of the European open with focus remaining on Ukrainedevelopments. UK mfg PMI data is due at 0928GMT and provides the main domesticdata interest. Cable resistance remains into $1.6750 with stronger interest remaining in place at $1.6765/70. A break here to open a move on toward $1.6800 ahead of recent highs at $1.6823. Support seen at $1.6710/00, $1.6685/80. Euro-sterling trades firm into Europe, trading toward stg0.8240.
