Sunday’s published YouGov survey on the Scottish referendum showing the Yes vote leading the No vote by 2 points led to sterling being marked lower into the Asia open. GBP/USD closed Friday in NY at $1.6332 and opened Monday at $1.6200/05. Two UK clearers were standout sellers into opening trade and pressed rate down to $1.6165, but euro-sterling meeting resistance into stg0.8000 provided some respite. Cable edged back toward $1.6200 and was greeted by another round of UK bank sales that saw rate retest the early lows as the cross broke above stg0.8000, moving on to stg0.8017. A US bank was a noted buyer into the cable dip and bounced rate through its opening level with rate extending this recovery to $1.6232 while the cross eased back, eventuallysettling around stg0.7985 through the balance of the Asian session. Cable seen opening Europe around $1.6205/10, while the cross trades around stg0.7982. UK Halifax house price data due at 0700GMT in an otherwise light domestic calendar, though the fall out from the weekend polls will continue to overshadow. UK IP/Mfg data Tuesday the next point of data interest. Cable support $1.6165 ahead of $1.6150 and $1.6134 (Nov25’13 low). Resistance $1.6230/35 ahead of $1.6250.
