The pair closed in NY Monday at $1.5586 after rate had been pressed, in thin trade, to a session low of $1.5574, the move having been led by euro-dollar slippage as the dollar made general gains. Cable touched an early high of $1.5594 in opening Asian trade only to meet sell interest that pressed rate lower again, making a show under the NY base to $1.5572. Fresh demand emerged into the dip, the recovery to $1.5596 aided by euro-dollar’s bounce off $1.2220, but failure to move back above $1.5600 kept rate soggy. Rate eased off to $1.5582 but was seen picking up some early demand into Europe. Euro-sterling was restricted to a very tight stg0.7847/48 range through Asia with main moves overnight seen dollar dictated. UK final reading of Q3 GDP data at 0930GMT provides domestic interest, alongside current account balance and BBA loans. US GDP, durable goods and PCE provides interest into the afternoon(1330GMT) ahead of UofM at 1455GMT. Markets were described as thin Monday and traders expecting more on the same today and into the Christmas break. Cable demand remains at $1.5572 ($1.5573 76.4% $1.5539-1.5681) ahead of $1.5551(Dec18 low and the 2014 low at $1.5539(Dec17). Resistance $1.5600 ahead of $1,.5635(NY high).
