Cable at three month high north of 14300


The dollar traded moderately softer so far today. EURUSD clocked a two-session high of 1.2373 from the 1.2330-35 area while the narrow USD trade-weighted index (DXY) ebbed by 0.25%. AUDUSD also traded firmer, and USDCAD lower. Cable traded above 1.4300 for the first time since January, as Sterling outperformed its peers. Elsewhere, the Russian rouble came back under the cosh following the weekend declaration from the U.S. that will be announcing new sanctions this week on Russia as a consequence of its backing the Syrian regime and following the alleged chemical attack on civilians.

GBPUSD triggered 3 entries this morning; 08:00 {1} (-19 pips), 11:00 {2}(+14 pips) and 12:00 {3} (+15 pips)  for a net gain of +10 pips.  Sterling remains well bid on the higher, longer term time frames against the AUD, CHF, EUR, NZD and USD.

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Stuart Cowell

Senior Market Analyst


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