Published at 07:14 (GMT) 23 Nov

EURUSD

Usual morning calls from Europe? EUR, GBP, AUD seem to have a "tendency" to move up around this hour - with talks of either early Europeans, East Europeans, Russians, Middle East and Asian demand, pushing them up in late Asia, early Europe. EUR/USD hit day highs of 1.4951, up from 1.4835-37, while Cable hit fresh day highs of 1.6561, up from 1.6544-47, on back of the early European demand, hitting stoploss on way up. EUR has recovered form its 2-week lows of 1.4801 seen on Friday after failure to take out the rumoured 1.48-1.51. Focus on ECB Pres Jean-Claude Trichet comments at 1245GMT in Madrid. Offers in EUR/USD on rallies to key 1.5000 again, not surprised to hear Swiss supranational, ENCBs, sovereigns, Asian offers, while bids at 1.4900 now. GBP offers at 1.6600, with focus on the bid for Cadbury, could see more demand for Cable on dips and EUR/GBP selling again. EUR/GBP at 0.9027-29, down from 0.90385. WL