The pair closed in NY Tuesday at $1.5519 after rate had extended its recent easing following the release of stronger than forecast US Q3 GDP revision, which boosted the dollar across the board, taking the rate to fresh 2014/28-month low of $1.5486. Rate eased to $1.5509 in opening Asian trade before fresh demand emerged to take rate to overnight highs of $1.5527, the move in line with the early push higher in euro-dollar. Euro-yen sales then weighed back on euro-dollar and cable tracked the slippage to Asian lows of $1.5505. Demand placed into $1.5500 cushioned the pullback ($1.5502 61.8% $1.5486-1.5527; $1.5496 76.4%) and allowed rate to recover back toward the overnight high into Europe. Euro-sterling was confined to a tight stg0.7842-48 range through Asia. A light data calendar this morning expected to add to expected subdued trade due to the start of the Christmas holidays in some major centres. Into the afternoon and US weekly jobless claims will provide the highlight of the day with market continuing to watch effects on UST yields. Cable support $1.5505/1.5495 ahead of $1.5486-80. Below here and next support seen at $1.5460/50. Resistance $1.5527-32($1.5532 38.2% $1.5606-1.5486) ahead of $1.5545-60.
