Middle Eastern names apparently took the baton initially, triggering the run up to 1.5388 highs. Eastern Europeans were then reportedly selling in the 1.5370’s .
EUR/GBP’s been a drag on cable this morning with some earlier M&A buying leading the charge higher to 0.8310. There’s offers ahead up in the 0.8330’s, and bids around 0.8280/90 and 0.8250/60
GBP/USD has strong offers ahead of 1.5400 and more up at 1.5410/20 with buy stops in position for a break of the latter level. Support is down at 1.5305/15
Coming up in a minute is the UK CPI data
