Cable fell a half-cent earlier today when industrial production fell 0.7% compared to a 0.3% rise expected. A few hours later the pair has recouped all its losses.
Perhaps it’s not as impressive as it looks given the broad US dollar weakness but the pound has recouped about half its losses on other crosses.
In cable, bids are at 1.7085 and 1.7064, which was the old breakout. More bids at 1.7035/50.
Sellers are at the Asian high of 1.7147 to 1.7150. More sellers at 1.7180 and a rumored barrier at 1.7200.
