Cable makes ground in Asian trade; notable buyer seen

Cable has made some ground in overnight Asian trade, presently up at 1.6340 having closed out Monday in North American down around 1.6310.

Sources note that a US bank, thought to be acting on behalf of an Asian sovereign, entered the market buying around 1.6300 and was responsible for the bulk of the overnight gains.

Very little in the way of UK economic data today to whet the appetite, infact the cupboard is almost bare:

11:00 GMT: UK CBI distributive trades

Talk of sell orders lined up at 1.6390/00, with stops just above 1.6400, and then more sell interest up at 1.6425 through 1.6445.

Buy orders seen down at 1.6280/90.