Free Trial
USDCAD TECHS

Fails To Hold On To This Week’s Highs

AUDUSD TECHS

Gains Considered Corrective

COMMODITIES

Crude Oil Ending Mixed Week Flat

EURJPY TECHS

Bullish Outlook

US TSYS

2Y Yield Hits Fresh Post-2007 Highs After Fedspeak

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
EURO-STERLING
MNI (London)
EURO-STERLING: Tuesday saw the cross extend its recovery, off Friday's month-end
low of Gbp0.8387, the move above its 10-dma Monday provided the impetus for rate
to touch the topside of its 1.0% 10-dma envelope, which by time yesterday came
in at Gbp0.8538. Rejection from this level seemed to prompt a general recovery
in sterling, the cross easing to Gbp0.8465 before it closed the day at
Gbp0.8475. Trade in Asia was contained within a range of Gbp0.8468/82, early
Europe has touched a slight extension high of Gbp0.8484. While rate holds above
its 10-dma(currently at Gbp0.8452) it keeps the underlying tone buoyant, with
the topside of the envelope currently at Gbp0.8436. Support seen at
Gbp0.8465/63(Tue low/50% Gbp0.8387-0.8538) ahead of Gbp0.8452/45(61.8%). A break
and clear would open potential for a move back toward the base of the envelope,
currently at Gbp0.8367. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.