Down at 1.6035 from around 1.6065 when I parked my bum, as general risk aversion perks up.
Yesterday there were reports of sell stops gathering down in 1.6010/20 area. No reason to suspect they won’t still be there.
UK data due today:
09:30 GMT: CPI for October expected +0.2% m/m, +3.1% y/y, core +2.6% y/y
09:30 GMT: UK DCLG house prices for September
CPI above forecast will be supportive of sterling and vice versa.
UPDATE: Well, if there were stops in 1.6010/20 area, it’s safe to say they were minute. Ummm. Cable having been to 1.6015 back up at 1.6025.
