Dealers see selling in GBP/USD and buying in EUR/GBP from Scandinavian banks. EUR/USD has firmed up to 1.3420 while Cable has dipped below 1.4900. Stop-loss sell orders in GBP/USD are eyed in the 1.4875/80 area.
Reports are circulating of Mid-east buying of EUR/USD on dips this morning. There were buyers a short while ago around the 1.3380 level, helping prompt the present bounce to 1.3425.
