Market finally found aforementioned stops beneath 1.5010 and we’ve been down to session low 1.4982. Earlier heard talk of more stops through 1.4970.
Market won’t have liked Posen’s warning that UK still subject to switching back to recession and Bob Crow’s call for a general strike. Ofcourse there’s the little matter of month-end European central bank buying of the EUR/GBP cross.
Cross has been as high as .8169 after aforementioned stops through .8145 tripped. This move helped by ECB 3-month tender results.
