The pair closed in NY Friday at $1.6647 after rate recovered through the NY session off an earlier low of $1.6587 to $1.6650 as market adjusted positions ahead of weekend risk, the much publicized referendum in the Crimea (overwhelming support to join Russia though vote declared illegal by the western economies and should prompt targeted sanctions). Rate consolidated this recovery within a $1.6630/50 range in early Asia before rate extended lows to $1.66 before settling between $1.6630/40 through to the European open. A light UK data calendar for today, BOE Cunliffe due to speak at Chatham House at 0930GMT, with most attention this week on Wednesday’s UK employment data. Euro-sterling saw extended highs of stg0.8381 Friday, the rate consolidating this move between stg0.83525-0.8369 in Asia with weekend press reports noting that Vodafone looks closer to a takeover of Spain’s ONO for stg7bln.Euro-sterling offers remain around stg0.8380, more between stg0.8395/410. Support stg0.8350, stg0.8320. For cable, resistance remains at $1.6650, a break to open a move to $1.6670/75 ahead of $1.6690/00 and $1.6720. Support $1.6620-10, more into $1.6600 ahead of $1.6587-$1.6568.
