Cable is seeing steady trade in early Europe, presently at 1.5040. As expected, US bank stress test results are busy being leaked, BofA apparently needing some $34 bln in new capital, while Citibank are said to need $5-10 bln.
At least the market isn’t going to be caught on the hop when results are offically announced, which could be a minor plus for cable.
Support for the pairing is down at 1.4985/95, resistance up at 1.5075/80.
