The pair closed in NY Friday at $1.6288, just off its corrective pullback low of $1.6287 after rate had pulled back from earlier highs of $1.6525, seen on the initial react to the Scots rejecting independence in their referendum. Rate toughed an opening low of $1.6285 in Asia before rate recovered through the balance of the Asian session to a high of $1.6264 as the dollar came under pressure across the board on an easing in UST yields. Cable was trading back around $1.6250 ahead of the European open. Euro-sterling, which had seen referendum react lows of stg0.7810 Friday, recovered through the rest of the day to stg0.7876, meeting resistance on approach to stg0.7880. The cross drifted lower through Asia from an early high of stg0.7878, finding support around stg0.7860 (Asia low stg0.78575). Domestic data calendar is very light today (and through the week). Several trader reports suggest long sterling positions vs Aud, yen and the euro (the latter based monetary policy divergence), though see gains versus the dollar as laboured. Cable resistance $1.6370/80 ($1.6374 21-dma) ahead of $1.6400/05. Support $1.6285/80, $1.6250/45 ($1.6247 Sep18 low).
