The pair closed in NY Tuesday at $1.5355, the rate having seen a volatile day as it dipped to $1.5332 ahead of UK CPI data, recovered to $1.5402 as core CPI countered the low headline read, only to turn lower through the NY afternoon, touching an extended low of $1.5317 as euro-sterling extended its recovery to stg0.74435, recovering to $1.5369 during the NY afternoon as markets reacted to reports Greece would accept a loan extension before drifting off into the close. Cable consolidated between $1.5346/56 in early Asia before edging up to mark session highs of $1.5361, the rate holding firm into Europe. Domestic focus on release of BOE Minutes and UK jobs data at 0930GMT. Vote in the Minutes expected to show a 9-0 split to keep rates/QE unchanged but market focus on any hawkish sentiment in the comments. EU/Greece comments remain on the radar. Cable support seen from $1.5320 through to $1.5300, resistance $1.5400/05. Euro-sterling could still be open to a short squeeze, along with other euro pairs, but expected to run into fade interest on any move toward stg0.7500. The cross traded in Asia between stg0.7423/35. US house data and PPI(1330GMT) ahead of IP/Cap.Ut. )1415GMT), overshadowed by FOMC Minutes (1900GMT).
