Stock prices stalled just a few points shy of the 200-day moving average yesterday. The average is about a half point higher today, at 1108.60. We’ve been as high as 1103 so far this morning.
EUR/USD is making new highs in the 1.23-teens in the wake of the 15:00 GMT fixing, a sign that real money accounts continue to rebalance their portfolios by buying EUR/USD, moving back to a neutral weighting after being underweight the single currency for months.
Offers extend up to 1.2330, we hear with stops in the 1.2330 area.
Cable has overcome the 1.4810 area and trades now in the low 1.4830s.
