Intra-Day Market Moving New and Views
18 Sep 2014
GBP/USD - .... Cable jumps ahead of European open.
Despite trading sideways in Asia following Wed's sharp retreat from a fresh 1-week high of 1.6358 to 1.6247 (AUS), traders noted a wave of broad-based buying by European early birds near 1.6260/65, price rallied to intra-day high of 1.6325.
As cable's intra-day up move was not news-driven and Scottish polling station are to open at 06:00GMT for voters to cast their votes (until 21:00GMT), choppy range trading is likely to continue.
Some offers are tipped at 1.6325/35 and more above with stops touted above 1.6360. Some bids are noted at 1.6270-60 and more below with stops below 1.6240.
Earlier comments by Treasury Secretary Jack Lew who said the United States will closely follow the Scottish independence vote on Thursday because it has potentially big economic consequences.
Lew told students on Wed "we think a strong, united UK is important as the UK has been one of our best and most reliable partners for a very long time."
He added "it's an internal debate within the UK right now but obviously there are potentially significant economic ramifications." He said "we're all watching with great interest what happens tomorrow."
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