Cable continues under pressure, presently at 1.6115.
Risk aversion is heightened. European stocks have started the week in very poor fashion, FTSE 100 already off around 1%, DAX 30 off around 1.5%. Alot of caution ahead of Q-2 earning reports. Last weeks poor US jobs report continues to also weigh.
Speculation of further Bank of England QE this week also damaging sterling. EUR/GBP has advanced to .8640 from an opening in Europe down around .8580. In Asia overnight there was talk of good bid interest lying in wait down at .8520/50.
Technical supports for cable now at 1.6100 and 1.6080.
