Intra-Day Market Moving News and Views
22 Dec 2014 09:31GMT
GBP/USD - ..... Although the British pound traded with a firm bias in Asia and gained briefly to session high at 1.5665 at European open, cable pared its gains and retreated sharply to 1.5618 in European morning, due partly to cross-selling of sterling especially vs euro.
Offers are now seen at 1.5650/60 and more above at 1.5670/80 with stops building up above there whilst initial bids are noted at 1.5590/00.
Since there is no eco. data out from UK today, price is expected to trade in choppy fashion till NY open.
Bank of England's Weale says hearing of pay freezes much more rarely from UK businesses.
This morning the British pound move narrowly in subdued Asian trading as some traders have closed their books in this holiday-abbreviated week. Despite Friday's rebound after intra-day retreat from 1.5682 to 1.5605 (NY low), anticipated renewed weakness in the eur/usd shud limit intra-day gain.
As no U.K. eco. data are due out today, cable is expected to track intra-day swings in the euro.
Order book was very thin on this Monday morning
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