The pair closed in NY at $1.5733 after rate had recovered off earlier traded lows of $1.5652 to a late day traded high of $1.5737. Moves during the day were seen mainly driven by euro-sterling as this rate initially extended its recent recovery to stg0.7955 in Europe before it slipped down to stg0.7880 during the NY afternoon. Cable eased off its opening Asia high of $1.5737 to $1.5714 before it settled within a consolidation range of $1.5715/30, opening Europe around $1.5722. UK construction data at 0930GMT the main domestic interest today though main drivers to remain UST yields and activity in the euro. EZ IP and jobs data at 1000GMT, followed by repayment details of LTRO at1100GMT to be watched. US PPI and UofM Sentiment provides the interest into the afternoon. Cable offers remain in place at $1.5750/60, more toward $1.5780/85. Support $1.5705-1.5695 ahead of $1.5680, with stronger interest remaining into $1.5650.
