FX Update - EUR/GBP
First Published Thursday, 9 July 2009 08:37 pm - © 2009 Need to Know News
EUR/GBP headed lower after the NY options cut, where EUR 400mln of 0.8575 strikes rolled off. The cross was at the strike level over expiry and gapped down to 0.8554 once the interest came out of the market. The sell-off in the cross is supporting Cable around 1.6350, while EUR/USD is below 1.4000 as US equity markets extend losses, which added to the heavier euro tone.
